Luxury car dealer Michael Cantanucci really went the extra mile when finding his next piece of property.
Cantanucci, who owns New Country Motor Car Groups — one of the largest independent car dealerships in the country — dropped a whopping $170 million for an oceanfront estate in Palm Beach.
This set a record price for a single-family home in the upscale island, where celebrities and dignitaries like Donald Trump, Bill Gates, Serena Williams, Mark Zuckerberg, Jimmy Buffett and Rod Stewart all have homes.
Up until this deal, which took place off-market, billionaire William Lauder had a set a record price when he purchased Rush Limbaugh’s former home for $155 million, according to the Wall Street Journal, which was the first to report on the transaction.
Lauder recently listed two parcels in Palm Beach for a combined $200 million. So if he is able to score his asking price, he will beat the all-time record for the island.
Meanwhile, as the sale took place off-market, interior photos of the $170 million property are scarce.
Located at 589 North County Road, Green Mountain Coffee Roasters founder Bob Stiller and his wife, Christine, sold the 1.6-acre property to Cantanucci.
And they’re walking away extremely happy. Records show the Stillers paid just $25 million for the property in 2014.
Built in 2006, the mansion initially featured eight bedrooms and 12 baths.
Occupying over 20,000 square feet, the home was expanded in 2015 and now includes 10 bedrooms and 19 baths.
The Mediterranean-style home also has a pool and an outdoor kitchen.
The home also features impact-resistant windows and doors, a whole house generator to power all electrical systems and a state-of-the-art lighting system, a previous description of the home states.
In terms of statewide records, however, Larry Ellison takes the cake. The co-founder of Oracle Corporation shelled out $173 million for an oceanfront mansion in Manalapan — just 25 minutes south of Palm Beach.
Cantanucci’s company has sites in New York, Connecticut, Florida, Maryland and Pennsylvania — selling Audis, BMWs, Ferraris, Lexus, Maseratis, Porsches, Minis and more.
Additonally, Cantanucci, and his wife, Kimberly, own another home in Palm Beach that they are in contract to sell. The 5,500-square-foot home was listed for $34.95 million in early April, going into contract two weeks later. They shelled out just $12.9 million in 2014 for the home, records show.
In 2021, they sold a New York City unit at 220 Central Park South for just over $40 million. And they are now buying an over-$50 million unit at nearby 111 W. 57th St., according to the Journal.