The Real Deal Miami

Brazilian e-commerce CEO sells Boca Raton home

Marcio Kumruian had paid $2 million for the waterfront house in August
By Keith Larsen | January 07, 2019 09:45AM

Marcio Kumruian and 237 West Alexander Palm Road

The CEO of Netshoes, a Brazilian e-commerce company, just sold his waterfront Boca Raton home for $5.15 million.

Marcio Kumruian sold the 7,861-square-foot house at 237 West Alexander Palm Road in the Royal Palm Yacht & Country Club subdivision for $655 per square foot, property records show. He sold the home to Tatiana Milman of Boca Raton.

Kumruian had paid $2 million for the the five-bedroom, six-and-a-half bathroom house in August. He bought it from the trust of Ricardo Ejzenbaum, which purchased the property for $5.3 million in 2011, property records show. It was built in 2006.

Kumruian co-founded Netshoes, an online sporting goods retailer, and has been its chairman and CEO since 2000. NetShoes filed for an IPO in 2017 and had annual revenue of more than $570 million (USD) that year.

A number of homes nearby in Boca Raton have sold in recent months.

Just down the road, Toni Fitts, whose late husband John Fitts co-founded OLS Hotels and Resorts, bought a home at 215 West Alexander Palm Road last month for $5.28 million, property records show.

In October, National Hockey League forward Max Pacioretty sold his Boca Raton home in the Royal Palm Yacht & Country Club subdivision to Gene Sullivan, regional president of Southern Glazer’s Wine & Spirits, for $3.1 million.