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Investment management partner buys waterfront Boca Raton mansion for $10M
Seller bought the home for $6.5M in 2013
A partner at an investment management firm bought a waterfront mansion in Boca Raton for $9.6 million.
Joshua D. and Victoria Frank purchased the home at 429 East Alexander Road from Cindy Barad Elias, a trustee of The Alexander Palm Revocable Trust, records show.
Joshua Frank is a partner and the co-head of research at Trian Partners, a multibillion-dollar investment management firm with offices in New York and Palm Beach, according to its website. Trian Partners’ portfolio includes Comcast, Domino’s, General Electric and PepsiCo. Frank also serves as a director of Sysco Corporation.
Elias bought the house in 2013 for $6.5 million, records show. The two-story home was listed in March 2020 for $10.8 million, and was most recently asking $9.9 million in January.
Bambi Ross of One Sotheby’s International Realty represented the seller, while Devin Kay of Douglas Elliman represented the buyer.
The 8,082-square-foot mansion has six bedrooms, six full bathrooms and two half-bathrooms.
Built by SRD Building Corp. in 2012, the home also has a wine room, office, gym and an elevator, according to the listing. The 11,240-square-foot property also features 88 feet of water frontage.
Several waterfront homes have sold in Boca Raton this spring. In May, the president of a video chat platform spent $6 million on a waterfront home. In April, the CEO of a skincare company bought a lakefront mansion for $5.2 million, and the daughter of the co-founder of Haagen-Dazs sold her mansion for $8.7 million.