Hotelier sells waterfront Boca Raton spec mansion for $28M 

Hotelier Mikhail Avrutin sold a waterfront spec mansion in Boca Raton’s Royal Palm Yacht & Country Club for $28.5 million.

Records show Avrutin sold the house at 444 East Alexander Palm Road to a trust named for the address and managed by Brian Monnich of the Boston-based wealth management firm Choate, Hall & Stewart.

Adam Elmer and Marie Mangouta of Fortune Christie’s International Real Estate represented both the buyer and seller in the deal.

Avrutin heads the Baltic Hotel Group. He is also a frequent investor in South Florida real estate. In 2021, he sold a waterfront Fort Lauderdale mansion for $23 million. In 2019, he sold a waterfront mansion in Royal Palm Yacht & Country Club for $13 million. 

He bought the East Alexander Palm Road property for $5.5 million in 2020. He tore down the existing 5,300-square-foot house and completed the 9,900-square-foot mansion last year, according to property records. Built on 0.3 acres, the home has six bedrooms, seven bathrooms, one half-bathroom, a pool and a dock, records show. 

Royal Palm Yacht & Country Club is a favorite community among luxury buyers, and has been home to most of Boca Raton’s priciest deals. Earlier this month, a waterfront spec mansion on Alexander Palm Road sold for $26.5 million. Convenience store mogul G. Robert Sheetz sold a waterfront spec mansion for $25.9 million last month. Also last month, Canadian car dealer Kapil Dilawari bought a spec mansion for $16.4 million.