Finnish developer of now-canceled project sells Boca Raton home: $6M

Miami /
Aug.August 10, 2016 01:40 PM

Well-known Finnish businessman and developer Markku Ritaluoma has sold his waterfront Boca Raton home for $6.24 million.

A company controlled by Ritaluoma sold the five-bedroom home at 485 Northeast Spanish Trail to an LLC for $6.24 million, records show. Ritaluoma made headlines for his now canceled Sunny Car Center, a massive 68-acre car sales center in Finland. He paid $5.45 million for the two-story house in 2008, a year after it was completed.

The buyer, 485 Spanish Trail LLC, lists a Highland Beach address. Elena Butenko controls the entity that owns that mansion. Butenko shares her name with a Ukraine-born actress, but it’s unclear if they are the same.

The Boca Raton property, a 7,300-square-foot, two-story house, includes about 90 feet of Intracoastal frontage, a heated infinity-edge pool, a Creston security system and a private yacht basin. Bomar Builders developed the home.

Corcoran’s Jennifer Kilpatrick was the listing agent, according to Redfin. It was listed for $7.89 million in September.


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