Iranian princess sells her waterfront Boca Raton home for $6M

Seller Mahnaz Zahedi is the granddaughter of the former Shah of Iran

TRD MIAMI /
Oct.October 15, 2020 06:15 PM
Mahnaz Zahedi pictured with her parents in 1962 (inset) and  444 E Alexander Palm Road (Getty, Zillow)

Mahnaz Zahedi pictured with her parents in 1962 (inset) and  444 E Alexander Palm Road (Getty, Zillow)

UPDATED, Oct. 16, 12:50 p.m.: The owner of a European hotel chain bought a waterfront Boca Raton home for $5.5 million from an Iranian princess who is the granddaughter of the former Shah of Iran.

Mikhail Avrutin bought the house at 444 East Alexander Palm Road from Mehrdad Fallah-Moghaddam and Mahnaz Zahedi, according to records.

Zahedi is the daughter of Shahnaz Pahlavi, a princess of Iran and the first child of the former Shah of Iran, Mohammad Reza Pahlavi and Princess Fawzio Faud of Egypt, according to published reports.

The buyer, Avrutin, is the owner and developer of Baltic Hotel Group, a hotel chain that operates two hotels in Estonia. Avrutin is also listed on his Linkedin as the president and founder of AFP of North America.

Records show Zahedi and her husband, Fallah-Moghaddam, had purchased the home in 2001 for $1.9 million.

Jackie Feldman  and Geri Penniman of Premier Estate Properties brokered the deal. The home was first listed in 2018 at $6.3 million and after a few price changes, was most recently listed for $6 million in September of this year, according to Realtor.com.

The 5,248-square-foot house was built in 1980. It has five bedrooms, four-and-a-half bathrooms and is on the Intracoastal Waterway.

This summer, the 12,000-square-foot New York mansion of the princess’ aunt, Princess Ashraf Pahlavi, sold, after a legal battle.

Among other recent sales in Boca Raton, the COO of a South Florida-based real estate investment firm sold his house for $5 million, a mansion in the Royal Yacht & Country Club sold for $9.4 million and a plastic surgeon paid $5.5 million for a home.






Related Articles

arrow_forward_ios
The Principal Richard Caster, Monica Mayotte and Andrea O’Rourke of Boca Raton City Council, and 2600 North Ocean Boulevard, Boca Raton (Credit: Azure Development)

Appeals court orders another vote on proposed Boca Raton beach duplex

Appeals court orders another vote on proposed Boca Raton beach duplex
Andrew Richardson and 1298 Cocoanut Road (Realtor)

Real estate exec sells Boca Raton home for $5M

Real estate exec sells Boca Raton home for $5M
261 Alexander Palm Rd, Boca Raton (Credit: Google Maps)

Boca Raton mansion sells for $9M

Boca Raton mansion sells for $9M
1889 Sabal Palm Drive and Dr. Lawrence “Scott” and Donna Ennis

Nip and tuck: Plastic surgeon buys Boca Raton mansion for $6M

Nip and tuck: Plastic surgeon buys Boca Raton mansion for $6M
Sal Calvino and 2989 Spanish River Road (Linkedin, Realtor)

Soaring: Aviation exec buys waterfront Boca Raton mansion

Soaring: Aviation exec buys waterfront Boca Raton mansion
Prentis Wilson and 1880 Sabal Palm Circle (Realtor)

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion
310 East Alexander Palm Road (Realtor.com)

Cumberland Farms scion buys waterfront Boca Raton home

Cumberland Farms scion buys waterfront Boca Raton home
Stephen Siegel of Fairstead, 21000 Ruth and Baron Coleman Boulevard in Boca Raton (Credit: Google Maps)

Jewish Federation sells Boca Raton senior living facility for $34M

Jewish Federation sells Boca Raton senior living facility for $34M
arrow_forward_ios

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

Loading...