Coffee magnate Bob Stiller sold his Palm Beach mansion for nearly $13 million, property records show.
Stiller, founder of Keurig Green Mountain, sold the 9,435-square-foot, four-bedroom home at 11 Via Vizcaya to a trust managed by Andrew W. Regan, a New York-based real estate attorney.
The property was developed in 2009 and includes a pool, a boat dock and frontage on the Intracoastal. It also has hard wood and marble floors, a guest apartment and a three-car garage. It’s unclear if a Keurig machine was included in the deal.
The two-story mansion was listed with Palm Beach broker Lawrence Moens of Lawrence A. Moens Associates. for $15.85 million, which means it sold for an 18 percent discount, according to Moens’ website. The deal breaks down to about $1,374 per square foot.
Moens could not immediately be reached for comment.
Stiller paid nearly $10 million for the property in 2011, records show. Forbes ranked the coffee tycoon a billionaire in 2015. The self-made businessman got his start selling cigarette rolling paper in the early 1970s, then used his profits to buy a coffee store that eventually became a manufacturer, Green Mountain, and later invested in what became Keurig, according to Forbes.
His attorney, Stephen P. Magowan, signed the deed transfer of ownership on behalf of The P.C. Grace FL Revocable Trust. In May, an entity managed by Magowan sold a waterfront lot up the road at 235 Via Vizcaya for $5 million.
The Palm Beach Daily News first reported the sale.