Ahead of South Florida real estate’s busy season, a former TV advertising boss sold a $16.3 million Jupiter waterfront spec mansion in an off-market deal.
Records show Lox River Road LLC, a Florida entity managed by Timothy Connors Jr., sold the house at 18826 Loxahatchee River Road to Veffy LLC, a Florida entity managed by attorney Mac Ross. The true buyer is hidden.
West Palm Beach-based Ross was also the attorney signing on behalf of a hidden seller in the $11 million sale of a waterfront half-acre in Jupiter Inlet Colony earlier this week.
Jupiter, Jupiter Inlet Colony and Palm Beach Gardens are golf hubs in northern Palm Beach County with an abundance of high-profile buyers, including billionaires and professional golfers. Homes frequently trade between trusts and LLCs designed to shield the identities of buyers and sellers.
Connors was the longtime CEO of ITN Networks, a New York City-based firm that provides television advertising management services. Founded in 1983, ITN rose to prominence in the pre-streaming era by bundling local TV advertising slots for clients, according to published reports.
The Connors-controlled entity bought the 1-acre Loxahatchee River Road property for $3.1 million in 2021, property records show. He demolished the existing home that year and began construction on a new single-family house in 2022, according to records.
Connors completed the 9,300-square-foot mansion earlier this year, Zillow shows. It has five bedrooms, nine bathrooms, three half-bathrooms, 80 feet of waterfront and a pool.
Connors listed the mansion for $19.5 million in 2022, and dropped the price twice before closing the deal off-market, according to Zilllow.
The house is a short drive from the Loxahatchee River Road mansion Dr. Mazin Shikara sold for a record $27.5 million last year. Pandemic-fueled migration was a boon for demand and price growth in Jupiter’s luxury real estate market. In April, basketball legend Michael Jordan paid $16.5 million for a second mansion in the Bear’s Club, a favorite gated community among well-heeled buyers in Jupiter.