Wife of rock salt magnate buys waterfront Boca Raton lots for $7M

The property has 345 feet of deepwater shoreline with multi-yacht dockage capabilities

Miami /
Jun.June 29, 2020 05:00 PM
Carmen N. D'Angelo, Jr., Kevin Kreutzfeld and 4111-4121 Ibis Point Circle

Carmen N. D’Angelo, Jr., Kevin Kreutzfeld and 4111-4121 Ibis Point Circle

 

UPDATED, June 29, 5:15 p.m.: A company tied to the wife of the co-founder of one of the largest salt mine operators in the U.S. bought two waterfront lots in Boca Raton’s Sanctuary neighborhood for $6.5 million.

Lotta Development, LLC, tied to Margaretha Buerman of Highland Beach, bought the 27,000-square-foot vacant lots at 4111 and 4121 Ibis Point Circle for $240 per square foot. JP Ibis, tied to James Patterson of Palm Beach, sold the property.

The site has 345 feet of deepwater shoreline with multi-yacht dockage capabilities. A new estate by luxury builder Addison Construction could be built on the property, according to Realtor.com.

The lots were last purchased for $5.5 million in 1999, records show.

Carmen N. D’Angelo, Jr. of Premier Estate Properties represented the seller in the deal. Kevin Kreutzfeld of Premier Estate Properties represented the buyer.

D’Angelo, Jr and Kreutzfeld declined to comment on the buyer and seller.

The Sanctuary of Boca Raton is a gated community of luxury homes bordering the Intracoastal Waterway. It has a 20-slip marina, tennis courts and 27-acre bird/wildlife preserve. It is one of the most expensive neighborhoods in Boca Raton.

Margaretha Buerman’s husband, Gunther Buerman, co-founded American Rock Salt Co., which produces de-icing salt products. The company mines its rock salt at Hampton Corners mine, south of Rochester, New York. The company claims to have the capacity to produce up to 18,000 tons of rock salt each day, according to its website.

Boca Raton has seen a number of high-end home sales in recent years as the city offers buyers larger gated homes at lower prices than in Miami or Palm Beach. In April, a former general counsel at Office Depot sold a home in Boca Raton’s Royal Palm Yacht & Country Club for $5.7 million. And in May, the former CEO of the craft store Michaels and his wife sold their waterfront estate in the Royal Palm Yacht & Country Club for $10 million.

Correction: A previous version of the story incorrectly stated that Kreutzfeld represented the seller. He represented the buyer. 


Related Articles

arrow_forward_ios
From left: Buyers Neil Merin, Dung Lam and Jordan Paul along with 1001 Yamato Road (top) and 999 Yamato Road (bottom) (NAI/Merin Hunter Codman, Moris Moreno)
Yamato Office Center in Boca Raton trades for $46M
Yamato Office Center in Boca Raton trades for $46M
Pebb Enterprises' Ian Weiner (right) and Banyan Development's  Jason Sher with Research Park at Florida Atlantic University (Pebb, Avison Young, LinkedIn, iStock)
Pebb, Banyan pay $37.5M for Research Park at FAU in Boca Raton
Pebb, Banyan pay $37.5M for Research Park at FAU in Boca Raton
Real Estate Investment Services’ Kyle Matthews with  201 East Las Olas Boulevard (Real Estate Investment Services, Loopnet)
Lease roundup: Matthews Real Estate opens first Florida office in Fort Lauderdale
Lease roundup: Matthews Real Estate opens first Florida office in Fort Lauderdale
2950 Northwest Fifth Avenue in Boca Raton (BanyanPlace.org)
Montreal investor pays $20.5M for Palm Beach County assisted living facilities
Montreal investor pays $20.5M for Palm Beach County assisted living facilities
Butters Group's Malcolm Butters with 1751 North Military Trail (Floridatrend, Butters Group, iStock)
Butters and Konsker propose $75M Boca Raton office project
Butters and Konsker propose $75M Boca Raton office project
(L-R) Vanderbilt Office Properties CEO Casey Wold, Site Centers President and CEO David Lukes, and Macquarie Group Managing Director and CEO Shemara Wikramanayake with 1800 North Military Trail  and 5050 Town Center Circle in Boca Raton (Google Maps, Site Centers, Vanderbilt OP, Macquarie Group)
Boca Center’s offices, retail, restaurants trade for $261.5M
Boca Center’s offices, retail, restaurants trade for $261.5M
Alina Residences at 200 Southeast Mizner Boulevard in Boca Raton (Alina Residences, iStock)
Ex-owner of Festival Flea Market pays $6M for Boca Raton condo
Ex-owner of Festival Flea Market pays $6M for Boca Raton condo
Transportation titan buys Boca Raton home for $7M
Transportation titan buys Boca Raton home for $7M
Transportation titan buys Boca Raton home for $7M
arrow_forward_ios

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

Loading...