Bob Stiller Acquires Steve Wynn's Palm Beach Mansion For $66M
1350 N Lake Way Palm Beach, FL 33480, USA
$66,000,000
$4,934/SF
Building Size
13,375 SF
Asset Type
Single Family Residence
Closing
May 2, 2023
AI
Billionaire casino mogul Steve Wynn has sold his lakefront mansion located at 1350 North Lake Way in Palm Beach for $66 million. The property, which sits on 0.8 acres of land, features a 13,375-square-foot single-family home. It includes eight bedrooms, nine bathrooms, and boasts marble and hardwood floors. Other amenities of the property include a pool and a dock.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $66,000,000
- Address: 1350 North Lake Way, Palm Beach
- Market: Palm Beach
- Acres: 0.8
The buyer of the property is Bob Stiller, the founder of Green Mountain Coffee Roasters, and his wife Christine Stiller. They have acquired the lakefront mansion from Steve Wynn. Lawrence Moens from Lawrence A. Moens Associates represented the seller, while the buyers were represented by their own representatives.
It is worth mentioning that Steve Wynn purchased the same property for $49 million in March 2021. With the recent sale price of $66 million, Wynn achieved a 35% increase in just over two years.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93