Ex-Tyco CFO sells condo at One Thousand Ocean in Boca Raton

Mark Swartz and Tyco ex-CEO Dennis Kozlowski were convicted in 2005 for fraud and illegal bonuses

Miami /
May.May 08, 2018 09:45 AM
Unit 101 at One Thousand Ocean and Mark Swartz (Credit: Redfin andA&E Television Networks) 

Unit 101 at One Thousand Ocean and Mark Swartz (Credit: Redfin and A&E Television Networks)

Tyco’s ex-chief financial officer Mark H. Swartz is unloading yet another one of his real estate assets in Boca Raton.

Property records show he and his wife Karen just sold unit 101 at One Thousand Ocean, a condo tower at 1000 South Ocean Boulevard, for $5.56 million.

Mark Swartz and Tyco’s ex-CEO Dennis Kozlowski, went to jail after being convicted in 2005 for defrauding the company’s shareholders of more than $400 million and giving themselves as much as $150 million in illegal bonuses.

Records show Karen Swartz paid $5.1 million for the condo in 2013, about a year before Mark Swartz was released from prison. Tyco, a security systems provider, named Mark Swartz its CFO in 1995.

In 2016, a trust tied to Swartz sold a Boca Raton mansion at 700 Lake Drive for $10 million.

The condo is a four-bedroom, four-bathroom unit with a private entrance and a wrap-around terrace that features views of the Atlantic Ocean and Intracoastal Waterway. The 5,100-square-foot condo also features a media room and gym.

Records show Felix DeHerrera and Dianne DeHerrera are the buyers. Felix DeHerrera is the chairman and majority owner of mortgage banking company Alterra Home Loans.

The two-story unit was last listed in January for $5.95 million. Douglas Elliman’s Senada Adzem represented the seller and United Realty Group brought the buyer, according to Redfin.


Related Articles

arrow_forward_ios
Opterra Capital buys Holiday Inn & Suites Boca Raton for $13M
Opterra Capital buys Holiday Inn & Suites Boca Raton for $13M
Opterra Capital buys Holiday Inn & Suites Boca Raton for $13M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
CP Group Managing Partner Angelo Bianco with One Town Center (CP Group)
Singaporean REIT pays $100M for One Town Center office building in Boca Raton
Singaporean REIT pays $100M for One Town Center office building in Boca Raton
5900 Northwest Broken Sound Parkway and Pebb Enterprises President and CEO Ian Weiner (CBRE, Pebb)
Pebb Enterprises buys Boca Raton office building for $15M
Pebb Enterprises buys Boca Raton office building for $15M
Alina Residences in Boca Raton (Alina Residences)
El-Ad scores $53M construction loan for Alina Residences in Boca Raton
El-Ad scores $53M construction loan for Alina Residences in Boca Raton
Rendering of Boca Ice and Fine Arts Center courtesy of Peninsula Ice LLC 
Ice skating gliding into Boca: Arena developers score $14M construction loan
Ice skating gliding into Boca: Arena developers score $14M construction loan
Pebb Enterprises CEO Ian Weiner and 1801 North Military Trail in Boca Raton (Pebb Enterprises)
Pebb Enterprises buys Boca Raton office building for $18M
Pebb Enterprises buys Boca Raton office building for $18M
The late Bob Campbell with his Boca Raton estate (Douglas Elliman, Getty)
A perfect fit: Boca Raton estate of late shoe mogul sells for $18M
A perfect fit: Boca Raton estate of late shoe mogul sells for $18M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...