Leandro Rizzuto Jr., a prominent figure in the luxury real estate market and heir to the Conair fortune, has recently concluded a series of high-profile residential transactions in Boca Raton, totaling an impressive $35.5 million. This surge in activity is notable, especially considering that August is traditionally one of the slower months in South Florida’s real estate landscape.
Rizzuto, the son of Conair’s late founder Leandro Rizzuto Sr., has made headlines by selling two properties and acquiring a lavish mansion. The properties involved include a $7 million and a $10 million sale, alongside the purchase of an $18.5 million estate.
The newly acquired mansion, located at 169 West Key Palm Road, was purchased from Donald and Kelley Jenkins. This nearly 9,000-square-foot residence, set on 0.4 acres of waterfront land in Boca Raton's prestigious Royal Palm Yacht & Country Club, represents a significant addition to Rizzuto’s real estate portfolio. Built in 2021, the mansion boasts six bedrooms, five full bathrooms, two half-bathrooms, a private pool, and a dock. The Jenkins had acquired this property for $15 million in the same year it was built, reflecting its upscale appeal and desirability.
In addition to this purchase, Rizzuto sold two other high-end homes. The first property, located at 2391 Areca Palm Road in the same exclusive community, was sold for $10 million to Nicola Verses. This 6,200-square-foot, non-waterfront home, which includes five bedrooms, six bathrooms, and a pool, was completed in 2021 and sits on a 0.3-acre lot. Rizzuto had originally acquired this property for $7 million earlier that year. Joyce Schneider again handled this transaction.
The second sale involved a property at 385 Southeast 9th Lane, also known as 385 Mizner Lakes Estates Drive, which was sold to Verses for $7 million. Situated within the grounds of the Boca Raton Resort & Club, this 7,200-square-foot residence, built in 2000 on 0.6 acres, features five bedrooms, five bathrooms, and a half-bathroom. Rizzuto had purchased this home for $7 million in 2021, with Schneider again representing him in this sale.
Rizzuto’s recent real estate endeavors reflect a broader trend of high-value transactions in the region. His involvement in these deals underscores a notable shift in the South Florida market, where luxury properties continue to attract significant interest despite seasonal slowdowns.
The Rizzuto family has been particularly active in the South Florida real estate scene this year. Leandro’s wife, Denise Rizzuto, was involved in a notable transaction earlier in January, flipping a home in Royal Palm Yacht & Country Club for $8 million. Additionally, in February, a portion of the oceanfront compound belonging to Rizzuto’s sister, Babe Rizzuto, was severely damaged when a heavy swell washed part of it out to sea. This incident highlighted the vulnerability of coastal properties to environmental factors.
Leandro Rizzuto Jr., who has spent much of his career as an executive at Conair—a company founded by his father and valued at $3.5 billion at the time of his passing in 2017—has also held prominent public service roles. He served as the U.S. Consul General in Hamilton, Bermuda, during the Trump administration, following an unsuccessful nomination to the U.S. Ambassador role in Barbados.
The recent real estate activity of Leandro Rizzuto Jr. demonstrates not only his continued involvement in the luxury market but also a strategic approach to property investment and management. His transactions in Boca Raton underscore the continued allure of South Florida’s upscale real estate, even during traditionally quieter periods.
Posted by Larry Mastropieri on
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