Entrepreneur sells waterfront Boca Raton mansion for $9M

Home initially listed for $12 million in October

1199 Spanish River Road, Boca Raton
1199 Spanish River Road, Boca Raton (Google Maps)

An entrepreneur sold his waterfront mansion in Boca Raton for $9 million, a few months after listing it for $12 million.

Records show Matthew and Ekaterina Peppler sold the house at 1199 Spanish River Road to Emme Development LLC, a Delaware corporation. The true buyer is hidden. 

Matthew Peppler is the owner of Boca Raton-based Popgun Trading Company, an entity that sells consumer goods, records show. 

Joseph Liguori, Gerard Ligouri and Carmen D’Angelo Jr. of Premier Estate Properties had the listing. Kevin Kreutzfeld of Premier Estate Properties brought the buyer.

Matthew Peppler bought the nearly 8.600-square-foot mansion for $5.6 million in 2013, property records show. The house sits on 0.4 waterfront acres directly across the water from the Royal Palm Yacht & Country Club. It was built in 2006 by luxury homebuilder Mark Timothy, the listing shows. 

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The mansion spans five bedrooms, six bathrooms, two half-bathrooms and includes a pool, a dock, and a four-car garage, according to records and the listing. The house also has a 200-bottle wine room and an elevator, the listing shows.

The Pepplers first listed the home asking $12 million in October, according to Redfin. 

South Florida’s residential real estate market is cooling off after a nearly three-year pandemic gold rush, fueled by demand for waterfront properties. Boca Raton saw waterfront properties sell for record prices, and so far price growth is sticking.

In December, supplements mogul Darielle Singerman sold her waterfront Boca Raton mansion for $10.2 million, within days of her husband Aaron Singerman’s release from federal prison. 

Local real estate investors Bernard and Margaret Palmer sold a waterfront spec mansion for $18.6 million in the Royal Palm Yacht & Country Club in Boca Raton in November. In October, Silicon Valley Bank wealth advisor Arty Langhaus bought a waterfront spec mansion in Royal Palm Yacht & Country Club for $25.8 million