Longtime Boston Scientific Chairman and CEO Michael Mahoney dropped $17.3 million on a waterfront house in North Palm Beach’s gated Lost Tree Village community.
Records show Mahoney’s Blue Sky Trust bought the house at 11279 Old Harbour Road from Edith Dixon Miller. The deed identifies Mahoney as the beneficiary of the trust and states he has been approved for membership of the Lost Tree Village Owners Association.
John Sousa and Jeffrey Hallas with Illustrated Properties had the listing, and James Kenny with K2 Realty brought the buyer.
Mahoney heads Boston Scientific, the Marlborough, Massachusetts-based medical device maker, and has held his position since 2011. His 2024 compensation package worked out to $21.4 million last year, a 14 percent increase from the year prior, according to NBC Boston. Records show Mahoney’s trust also bought a condo nearby for $7 million last year.
Miller bought the 0.7-acre Old Harbour Road property for $2.9 million in 1999, according to property records. The 6,400-square-foot house was built in 2002 and has four bedrooms, four bathrooms, one half-bathroom, a pool and a dock, records show. The property has 120 feet of seawall, the listing shows.
She listed the house for $20 million last month, according to Redfin.
Records show she bought another Lost Tree Village house at 12087 Turtle Beach Road for $12 million in March. The 5,100-square-foot house was built in 2006 and has four bedrooms, four bathrooms, one half-bathroom and a pool, according to property records.
Lost Tree Village has seen a series of pricey deals in recent months. Earlier this month, Canadian baby products mogul Maurice Pinsonnault sold an oceanfront estate in the community for $55 million, making it the most expensive home ever sold in the enclave. In February, another oceanfront house traded for $31.9 million.