Palm Beach lot sold by billionaire flipped for $800,000 profit
A limited liability company flipped a lakefront lot in Palm Beach for an $800,000 profit after buying it from billionaire Robert Stiller.
Stiller, who founded coffee company Kuerig Green Mountain Inc., sold the lot at 12 Via Vizcaya for $4.7 million to 235 Via Vizcaya LLC, which immediately sold the lot for $5.5 million.
The new owner of the lot is County Down Trust, which lists Andrew W. Regan as trustee. In July, the trust bought the lakefront house next door at 11 Via Vizcaya for slightly less than $13 million.
In May, the company that flipped the lot, 235 Via Vizcaya LLC, paid approximately $5 million for another lakefront lot at 235 Via Vizcaya, just north of the lot the company sold to County Down Trust.
Earlier this year, Stiller sold a 9,435-square-foot, four-bedroom house at 11 Via Vizcaya to the trust managed by Regan, a New York-based attorney.
Stiller, founder of Keurig Green Mountain, sold the 9,435-square-foot, four-bedroom home at 11 Via Vizcaya to a trust managed by Andrew W. Regan, a New York-based real estate attorney.The lot at 12 Via Vizcaya had been listed for sale with an asking price of $5.75 million and had been under contract for almost a year.
Source: The Real Deal