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Enfusion CEO sells waterfront Boca Raton estate for record $29M
Oleg Movchan had paid $15.8M for the mansion in 2021
The CEO of an investment management software company sold his waterfront Boca Raton estate for a record $29 million.
Property records show Oleg Movchan and Beata Vaynberg sold the house at 5001 Egret Point Circle to a Florida entity named for the address and managed by GSB Corporate Services in Wellington. The true buyer is unknown.
Carmen D’Angelo of Premier Estate Properties had the listing, and Christian Angle of Christian Angle Real Estate brought the buyer.
The sale marks a price record for residential sales in Boca Raton, topping last year’s $28 million sale of a waterfront estate in Royal Palm Yacht & Country Club to a Michigan-based developer. This is also the first Boca Raton price record set outside of Royal Palm Yacht & Country Club since 2021.
Movchan heads Chicago-based Enfusion, a financial services software firm that makes a management tool for hedge funds, family offices and institutional investors. The company is valued at about $1 billion, Reuters reported in June.
Movchan and Vaynberg bought the mansion on Egret Point Circle in Sanctuary, a guard-gated community, for $15.8 million in 2021, property records show. Built in 2005 on 1.1 acres, the nearly 14,900-square-foot mansion has nine bedrooms, eight bathrooms and two half-bathrooms, according to records. The home includes a library, staff room, juice bar, gym, two wine vaults and an office, the listing shows. The property spans 560 feet of waterfront.
The couple listed it for $33.5 million in October, according to Redfin.
The sale marks a $13.3 million, or 84 percent, increase in value in three years.
Like the rest of South Florida, Boca’s luxury real estate prices have been rising at an unprecedented pace in the wake of the pandemic. While the pace of deals has slowed in the past year, price growth continues, and record deals keep closing.
Gated communities like the Sanctuary and Royal Palm Yacht & Country Club are increasingly popular among South Florida’s luxury buyers, who agents say prioritize security and privacy in their purchases.
Earlier this month, HomeBridge Financial Services CEO Peter Norden sold a spec mansion in Royal Palm Yacht & Country Club for $16.9 million. Denise Rizzuto, the wife of Conair scion Leandro Rizzuto, Jr., flipped a house there for $8 million in January. In December, Michelle LeMay, the ex-wife of former Planet Fitness CEO Chris Rondeau, sold her One Thousand Ocean condo for $13 million.