Nestle distributor lands sweet deal for Boca Raton mansion

Waterfront mansion traded for 37% discount off original ask

May.May 04, 2018 01:40 PM

750 Lake Drive and Delco Development’s William T. Juliano (Credit: Redfin and Delco Development)

The head of Nestle’s coffee and tea distributor in the U.S. just picked up a waterfront mansion in Boca Raton.

Michel Jacober, co-founder and co-owner of custom beverage maker Allen Flavors Inc., paid $12 million for the mansion at 750 Lake Drive, property records show.

At 16,300 square feet, the deal breaks down to about $740 per square foot. The seven-bedroom home features 150 feet of water frontage, a yacht slip that fits a 120-foot vessel and an infinity pool. It was built in 2001.

Records show Jacober bought the home from a company led by William T. Juliano of the real estate firm Delco Development. It last sold in 2006 for about $8.7 million.

The house hit the market in 2009 for $18.9 million or $1,160 per square foot, which comes out to a 37 percent difference to the selling price. It was last on the market for $12.95 million, according to Redfin. Joseph Liguori, Carmen N. D’Angelo Jr. and Gerard Liguori of Premier Estate Properties represented the seller. RE/MAX Properties brought the buyer.

In December, Todd Roberti, head of a New Jersey healthcare company Premier Healthcare Exchange, and his wife, paid $8.45 million, or $1,000 per foot, for a newly completed home also in Boca Raton.

Related Articles

A rendering of Manley Storage Ventures facility at 7171 North Federal Highway

New self-storage, retail facility coming to Boca Raton

From left: Howard Sands, Scott Tracy, and Kenton Wright

Walgreen sells store near Boca Raton for $9M

Shane Neman, and Mauricio Bello Richard Waserstein, with 525 Northwest 77th Street Marriott in Boca

Blackstone sells Marriott hotel in Boca Raton

Malcolm Butters, 950 Peninsula Corporate Circle in Boca Raton

Butters buys Boca Raton office building

A rending of the the project

REI to open first South Florida store in Boca Raton

Royal Palm Residences and Ignacio Diaz

Group P6 launches sales of new luxury condo project in Boca Raton

University Park and Square Mile Capital CEO Craig Solomon (Credit: Zillow)

Boca Raton student housing scores $71M refi

Rooms to Go CEO Jeffrey Seaman and 9465 Glades Road (Credit: Google Maps)

Rooms To Go CEO bags furniture store in Boca Raton