The Real Deal Miami

Trust pays $13M for former Qwest CEO’s Jupiter manse

Joseph Nachio and his wife paid $9.5 million for the waterfront home in 2005
The home at 496 Mariner Drive in Jupiter

The home at 496 Mariner Drive in Jupiter

A Mediterranean-style waterfront mansion in the Admiral’s Cove neighborhood of Jupiter was just sold for $13 million, according to Palm Beach County records.

The house, at 496 Mariner Drive, sits on an acre lot facing the Lake Worth Creek. It measures 14,858 square feet inside and out, and has finishes ranging from exposed beams in the living room to brick arches draped with grape leaves in the kitchen. It was built in 1993 on the eastern side of the Mariner Drive cul de sac, which houses a handful of similarly sized mansions. The home’s other features include a small courtyard leading to its entrance, an outdoor pool and a dock.

Joseph Naccio during a 2014 interview with Fox Business News

Joseph Naccio during a 2014 interview with Fox Business News

Placid Key Trust, with Palm Beach lawyer James H. Ryan as its trustee, was the buyer. The trust took out a $6.5 million loan from Chicago-based Northern Trust Company to finance the deal.

The sellers were Anne M. Esker and her husband Joseph Nacchio, the former Qwest CEO who was convicted of felony insider-trading charges in 2007. The couple paid $9.5 million for the Jupiter home in 2005, which was sold at the time by a company called Clay Lane Rental. The company purchased the home for $4.1 million in 2004, more than doubling its original investment in one year, according to county records.