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1350 N Lake Way Palm Beach,...

Bob Stiller Acquires Steve Wynn's Palm Beach Mansion For $66M
SOLDSingle Family Residence

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.

Players

Lawrence Moens

Broker

$2.4B

vol

64 deals

Broker

Christine Stiller

Green Mountain Coffee Roasters

Buyer

$320M

vol

3 deals

Buyer
GR
Green Mountain Coffee RoastersBuyer

Miami Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

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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