realestate

Conair heir seals three luxury deals in Boca Raton worth $36M

Boca Raton's real estate market heats up as Conair scion Leandro Rizzuto Jr. seals three luxury residential deals worth $35.5 million in August, a month typically known for its sluggish pace in South Florida's real estate market.

I
n August, a month typically slow for South Florida's real estate market, Conair heir Leandro Rizzuto Jr. made three significant transactions totaling $35.5 million. He sold two properties for $7 million and $10 million respectively, and purchased an opulent mansion for $18.5 million. The younger Rizzuto is known to have worked at Conair for most of his life, according to various reports. He also served as U.S. Consulate General in Hamilton, Bermuda during the Trump presidency, after his nomination to the U.S. Ambassador role in Barbados failed to pass through the Senate, as per published reports.

    The mansion, located at 169 West Key Palm Road, was bought by Rizzuto from Donald and Kelley Jenkins for $18.5 million. Spanning over 9,000 square feet, the property sits on a waterfront plot of 0.4 acres within Boca Raton's prestigious Royal Palm Yacht & Country Club, considered the city's most expensive gated community. Built in 2021, the mansion boasts six bedrooms, five bathrooms, two half-bathrooms, a swimming pool, and a dock. The Jenkins had purchased the property for $15 million just a year prior, according to property records. The listing was handled by Dustin Nero and Senada Adžem of Douglas Elliman, while Joyce Schneider from Castles By The Beach Realty represented the buyer.

    Rizzuto also made another sale within Royal Palm Yacht & Country Club, selling a non-waterfront house at 2391 Areca Palm Road to Nicola Verses for $10 million. This 6,200-square-foot property features five bedrooms, six bathrooms, one half-bathroom, and a pool. Built on 0.3 acres in 2021, Rizzuto had purchased the house for $7 million the same year, as per property records. Schneider was responsible for handling the listing.

    Verses further expanded his real estate portfolio by purchasing the house at 385 Southeast 9th Lane (also known as 385 Mizner Lakes Estates Drive) from Rizzuto for $7 million. This property is located within the Boca Raton Resort & Club's Mizner Lakes Estates grounds. Built on 0.6 acres in 2000, the house spans an impressive 7,200 square feet, featuring five bedrooms, five bathrooms, and one half-bathroom. According to records and the listing, Rizzuto had bought this property for $7 million in 2021. Schneider was once again responsible for handling the listing.

    The Rizzutos have been quite active in South Florida's real estate market this year. In January, Rizzuto's wife, Denise Rizzuto, successfully flipped a house within Royal Palm Yacht & Country Club for $8 million. In February, part of his sister Babe Rizzuto's oceanfront compound in Jupiter Inlet Colony was washed away by a heavy swell.

Boca Raton businessman, Conair heir, signs three luxury deals totaling $36 million.