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Investor Mosie Miller drops $22M on waterfront Palm Beach home
He just sold a Palm Beach Gardens spec mansion to BET co-founder Bob Johnson for $20M
Palm Beach real estate investor Myron “Mosie” Miller just closed his second deal this month — this time as the buyer.
Records show Miller and his wife, Michelle, bought the home at 1246 North Lake Way in Palm Beach’s North End from Kane K. and Mary F. Baker for $21.6 million. Super broker Lawrence Moens represented both the buyers and the sellers in the deal.
Miller is a frequent investor in Palm Beach County real estate. Earlier this month, he sold a newly renovated Palm Beach Gardens mansion to BET co-founder Bob Johnson for $20 million. In August, he bought a waterfront mansion in Palm Beach Gardens for $11 million with his father, Robert Miller. The duo use it as a short-term rental property and snag about $30,000 a weekend, Illustrated Properties agent Vince Marotta told The Real Deal.
Mosie and Michelle Miller are also selling an oceanfront Palm Beach home at 149 East Inlet Drive, which is listed with Moens for $79 million. The deal is now pending after more than two years on the market, according to Realtor.com.
Kane and Mary Baker are the type of residents that give Palm Beach its old money reputation. Kane Baker is the great-grandson of George Fisher Baker, founder of First National Bank of New York City, now known as Citibank. Mary Baker’s father was chairman of Miami-based Keller Industries, and president of New York City-based financial firm Fletcher & Company, according to the couple’s 1987 wedding announcement in the New York Times.
The couple bought the 0.3-acre North Lake Way home for $2.3 million in 1990, records show. Built in 1962, the nearly 4,700-square-foot waterfront house includes five bedrooms, four bathrooms and a pool, according to property records. The property also has a deepwater dock on Lake Worth.
The listing described the home as “an opportunity for renovation.” It first asked $29.9 million in February, Realtor.com shows.
Palm Beach’s luxury real estate market has had a busy couple of months, with inter-island moves driving record sales. Car dealer Michael Cantanucci set a price record in April when he dropped $170 million to buy coffee mogul Bob Stiller’s oceanfront estate.
Last week, another car dealer, Rodman Ryan, bought a Palm Beach home from Carriage House founders Michael and Paula Bickford for $28.7 million. This month, oil scion siblings sold their late parents’ Palm Beach home for $17.1 million. Also this month, designer and real estate investor Tommy Hilfiger flipped a house for $41.4 million, five months after he bought it from Moens for $36.9 million.