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

Adam Cohen is managing partner at Caspian Capital; Samara Cohen is managing director at BlackRock.

Adam Cohen and 151 West Alexander Palm Road, Boca Raton (Caspian Capital, Royal Palm Properties)
Adam Cohen and 151 West Alexander Palm Road, Boca Raton (Caspian Capital, Royal Palm Properties)

A financier couple spent $12 million on a spec mansion in the Royal Palm Yacht & Country Club in Boca Raton.

Adam and Samara Cohen bought the home at 151 West Alexander Palm Road from M.Y.N Investments LLC, according to records. Nadav Houri signed as a managing member of M.Y.N Investments. Houri started the real estate investment company in 2008, according to his LinkedIn profile.

Adam Cohen is a managing partner at New York-based Caspian Capital LP, an investment adviser focused on investing in corporate credit markets, according to its LinkedIn page. Samara Cohen is currently the managing director and co-head of iShares markets and investments at New-York based investment management firm BlackRock.

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Records show Houri bought the property in 2017 for $3.2 million. In 2018, he demolished the existing home and began building a new house. Houri then transferred ownership to M.Y.N Investments for $2.4 million in December 2019.

The Boca Raton home was completed this year, but hit the market in May 2019, with an initial asking price of $15.5 million, according to Realtor.com. The price dropped to its most recent listing of $12.9 million in August. David W. Roberts of Royal Palm Properties brokered the deal.

The 8,904-square-foot home features five bedrooms — four of which have access to an outdoor balcony, five full bathrooms, three half-bathrooms, a 600-bottle capacity wine room and a three-and-a-half car garage. The outdoor area has a rooftop viewing deck with a putting green, 120 feet of water frontage and a pool, according to the listing.

The Royal Palm Yacht & Country Club has had a number of big sales in the past few months. Billionaire building supplies businesswoman Maggie Hardy-Knox bought a newly built Royal Palm Yacht & Country Club mansion for $15.9 million, a mansion in the neighborhood sold for $9.4 million, and a Boca Raton plastic surgeon bought a mansion for $5.5 million.