Wealth adviser pays record $26M for waterfront Boca Raton spec mansion

The co-founder of Silicon Valley Bank’s private wealth advisory arm bought a waterfront Boca Raton spec mansion for a record $25.8 million.

Records show Arty Langhaus bought the house at 500 East Alexander Palm Road from the 500 East Alexander Palm Road Trust, with Boca Raton-based attorney Jeffrey Baskies signing as trustee.

Dr. Steven Scott, a South Florida obstetrician/gynecologist and entrepreneur bought the Royal Palm Yacht & Country Club property for $5.8 million in 2017. Records show he transferred the property to the trust managed by Baskies in June of last year.

David Roberts of Royal Palm Properties represented both sides of the latest deal. According to the listing, SRD Building Corporation built the nearly 8,300-square-foot spec mansion on the 0.3 acre lot. Completed this year, the house has five bedrooms and seven bathrooms.

Scott founded Vista HealthPlan and Phoenix Physicians, both national health care companies. He sits on the board of the state university system of Florida and on the board of trustees of Duke University.

He and his wife, Rebecca Scott, sued their former estate attorney for malpractice in 2020, in a high-profile case that involved their eldest son Rob Scott, the Miami Herald reported. The lawsuit alleged their lawyer, Carl Rosen, breached his fiduciary duty in helping Rob Scott move millions in trust funds into his control and away from his four siblings. The case was ruled a mistrial this June, according to the ABA Journal.

The sale beats the previous price record for Boca Raton set in July of last year when a home sold for $24.5 million.

This is not the first Royal Palm Yacht & Country Club project for SRD Building Corporation, a Boca Raton-based homebuilder led by brothers Steve and Scott Dingle.

The company built a spec house in the gated community that resold for $17.2 million in July. Steve Dingle also bought a home in the community last year for $9.4 million.