Hotelier buys waterfront Boca Raton home for $6M

Miami /
Oct.October 15, 2020 06:15 PM
444 E Alexander Palm Road (Zillow)

444 E Alexander Palm Road (Zillow)

UPDATED, Nov. 6, 6:20 p.m.: The owner of a European hotel chain bought a waterfront Boca Raton home for $5.5 million.

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

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.

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.

Correction: A previous version of this story misidentified Mahnaz Zahedi.





     

    Related Articles

    arrow_forward_ios
    Craig A. Bondy & 327 East Alexander Palm Road (Royal Palm)

    Private equity bigwig buys Boca Raton spec mansion for $13M

    Private equity bigwig buys Boca Raton spec mansion for $13M
    Boca Raton Municipal Golf Course with GL Homes' Misha Ezratti, head of GL Homes and Boca Raton Mayor Scott Singer (Google Maps, Lila Photo via GL Homes, Twitter)

    Slow play: GL Homes’ purchase of Boca Raton golf course pushed to 2021

    Slow play: GL Homes’ purchase of Boca Raton golf course pushed to 2021
    Raymond Silcock and 1220 Thatch Palm Drive, Boca Raton (Perrigo, Royal Palm)

    Pharmaceutical CFO buys Boca Raton spec home for $6M

    Pharmaceutical CFO buys Boca Raton spec home for $6M
    Lexington Realty Trust's Wilson Eglin and 5600 Broken Sound Boulevard, Boca Raton (Google Maps)

    HSBC to take over Boca Raton office building following foreclosure auction

    HSBC to take over Boca Raton office building following foreclosure auction
    3573 South Ocean Boulevard, Highland Beach (Google Maps)

    Software telecom company founder sells waterfront Highland Beach mansion for $8M

    Software telecom company founder sells waterfront Highland Beach mansion for $8M
    Adam Cohen and 151 West Alexander Palm Road, Boca Raton (Caspian Capital, Royal Palm Properties)

    Wise investment? Two financiers spend $12M on Boca Raton mansion

    Wise investment? Two financiers spend $12M on Boca Raton mansion
    Peter Norden 378 East Alexander Palm Road, Boca Raton (Credit: Google Maps)

    HomeBridge CEO spends $13M on waterfront Boca Raton mansion

    HomeBridge CEO spends $13M on waterfront Boca Raton mansion
    Bell Partners CEO Jon Bell and the Bell at Broken Sound complex (Bell Partners, Google Maps)

    Bell Partners pays $94M for two Boca Raton apartment complexes

    Bell Partners pays $94M for two Boca Raton apartment complexes
    arrow_forward_ios

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

    Loading...