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Ferrari racer buys riverfront home in Jupiter for $6M
Sellers built the home in 2016, after buying the property for less than $1M in 2013
Race car driver Lance Cawley spent $5.9 million on a Loxahatchee Riverfront home in Jupiter.
Records show Cawley and his wife, Nancy, bought the house at 316 West Riverside Drive from Andrew and Milla Russo.
Lance Cawley is a Ferrari racer who debuted in 2016, according to Ferrari’s website. Property records show the Cawleys also own a home in Palm Beach Gardens at 687 Hermitage Circle.
The Russos both run The Russo Group, a Jupiter-based broker group that is part of Illustrated Properties. According to the group’s website, Andrew Milla is the principal of The Russo Group and has closed over $1 billion of real estate.
The couple purchased the riverfront property for $926,250 in 2013, records show. That same year, Andrew Russo demolished a home on the property; and in 2015, he filed to construct a new single-family home. It was completed in 2016, according to property records.
The existing house was first listed in 2017 for $4.2 million. The most recent asking price was $6 million in April. The Russos represented themselves, and Lee Farmer of Coldwell Banker Realty represented the buyers.
According to the listing, the property includes a five-bedroom main home with four full bathrooms and two-half bathrooms, as well as a one-bedroom, one-bathroom guesthouse. The total square footage is 5,180 square feet, records show. The home also features a pool, a dock with two boat lifts, and balconies that overlook the Loxahatchee River.
Among other recent home sales in Jupiter, Nick Mastroianni, chairman of the U.S. Immigration Fund, bought a waterfront mansion for $7.3 million; Eric and Lara Trump bought a home for $3.2 million; and the owner of a Minor League Baseball team sold a waterfront mansion for $10 million.