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

Bob Sheetz and 133 West Coconut Palm Road

Ah Sheetz! Founder of popular convenience store sells Boca Raton estate

The Meridian at Boca Raton at 21865 Ponderosa Drive, and Kenneth Assiran

Meridian Senior Living buys community near Boca Raton for $61M

Michael and Michelle Hagerty, and their home in Royal Palm Yacht & Country Club (Credit: Keeping the Promise, Realtor)

Vodka heir pays $6M straight up for Boca Raton estate

James Batmasian and Trail Plaza in Deerfield Beach (Credit: Google Maps)

James Batmasian nabs retail center in Deerfield Beach for $17M

300 East Key Palm Road

Transportation execs pay $12M for waterfront Boca Raton estate

James Batmasian and 22973-23071 State Road 7

James Batmasian buys Publix-anchored Boca Raton shopping center

Daily Digest Miami

Stephen Ross steps down from NFL committee post-fundraiser backlash, drama at Regalia: Daily digest

Construction of downtown Hollywood high-rise may start soon