ch mansion sold for far less
Andrew Mack and Playa Vista Isle (Credit: Forbes)
Teavana co-founder Andrew Mack paid $42.5 million for an ornate waterfront South Florida estate, a massive discount from the original $159 million asking price in 2015, The Real Deal has learned.
Developer Robert Pereira sold Playa Vista Isle, previously called “Le Palais Royal,” to Oppornova LLC, a Delaware company, property records show. Concierge Auctions and Ralph Arias of One Sotheby’s International Realty represented the seller of the 60,000-square-foot mansion. The auction, which occurred in November, had 11 bidders, according to a release. The $42.5 million price tag would exclude a buyer s premium.
Mack and his wife Nancy founded Teavana about 20 years and sold the tea retailer to Starbucks for $620 million in 2012. Andrew Mack s name appears on corporate records tied to the LLC in Hawaii.
One Sotheby’s said the deal — despite the steep discount — is the most expensive residential sale to close in Broward County. The second-priciest is the $27.5 million sale of 5 Harborage Drive in Fort Lauderdale in 2015.
The brokerage declined to comment on the sale price or buyer’s identity.
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