Daren Metropoulos, the son of billionaire Dean Metropoulos, dropped $148 million on a historic oceanfront Palm Beach estate in an off-market deal. The reported price makes the late-season sale the second most expensive in Florida this year.
Metropoulos bought the mansion at 455 North County Road from the Pencer family, a spokesperson confirmed. Christian Angle of Christian Angle Real Estate represented the buyer, and Jim McCann of Premier Estate Properties represented the sellers. The deal, which has yet to be recorded, was first reported by the Palm Beach Daily News.
Dean Metropoulos, who has a net worth of $2.9 billion according to Forbes, also owns a home on the island.
The recently sold 3.2-acre estate, known as Casa Amado, is one of the priciest ever sold in Palm Beach. Car dealer Michael Cantanucci set the island’s price record last year when he bought an oceanfront compound for $170 million. Also last year, billionaire cosmetics heir William Lauder dropped $155 million on an oceanfront teardown. Last month, spec developer Todd Glaser and his partners sold the private Tarpon Island for $152 million.
Casa Amado includes many of the features billionaire buyers expect of these sprawling nine-figure estates. The 13,100-square-foot mansion has six bedrooms, five bathrooms and three half-bathrooms, property records show. The compound also has a pool, two cabanas, a tennis court, theater, gym and 225 feet of direct beach frontage, the spokesperson confirmed. It was built in 1920 by Addison Mizner for Charles Munn, a Gilded Age socialite known as “Mr. Palm Beach,” according to published reports.
The Pencer family bought Casa Amado for $12.1 million in 2003, property records show. Max, Gary and Richard Pencer are the sons of Bill and Ida Pencer. Ida Pencer was a member of the Steinberg family, which owned a prominent grocery chain in Quebec and Ontario. Bill Pencer’s father and brothers owned the Canadian beverage company, Cott, which was one of the largest soft drink distributors in Canada in the 20th century.
Today, Cott is known as Primo Water, and it is one of the bottled water brands that agreed earlier this week to merge with Dean Metropoulos’ BlueTriton Brands, the Wall Street Journal reported. Casa Amado’s buyer, Daren Metropoulos, is a partner in his father’s investment firm Metropoulos & Co., and is a co-owner of BlueTriton Brands.
The younger Metropoulos owns trophy properties across the country. In 2016, he bought the Playboy Mansion in Los Angeles for $100 million. He bought an oceanfront house in Miami Beach for $18 million in 2021. He also owns homes in Martha’s Vineyard, Kaua’i and New York City, a spokesperson confirmed.