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

Miami /
Nov.November 05, 2020 03:30 PM
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.

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.






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