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

TRD 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
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

arrow_forward_ios
Loading...