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

TRD MIAMI /
Aug.August 13, 2015 12:45 PM

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.

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.


Related Articles

arrow_forward_ios
Harbourside Place in Jupiter

More EB-5 investors allege fraud at Jupiter development

Illustrated Properties acquires Jupiter Hills Village Realty

Illustrated Properties acquires Jupiter Hills Village Realty

Dan A. Colussy and 161 Bears Club Drive

Former Pan Am exec sells home in Bear’s Club for $10M

Brook Lenfest and plans for 107 Quayside Drive in the Admirals Cove community

Philly media mogul’s son sells waterfront Jupiter property

Toll Brothers CEO Douglas C. Yearley, Jr. and Jupiter Country Club

Toll Brothers putts Jupiter golf course over to ClubCorp for $8M

Daily Digest Miami

Related sells Tampa apartments for record $132M, Miami apartment tower evacuated after fire: Daily digest

Bluffs Square in Jupiter (Credit: Google Maps)

Equity One sells Jupiter shopping center to Sterling for $26M

Downtown Abacoa and Michael Nortman of FLF Holdings (Credit: Google Maps)

Dallas firm buys retail component of Jupiter mixed-use project

arrow_forward_ios
Loading...