Latest news with #RobertStiller
Yahoo
29-05-2025
- Business
- Yahoo
Keurig Coffee King Wakes Up Big Money Buyers, Listing His Palm Beach Mega Mansion For $90 Million
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Robert Stiller, best known as the former CEO and founder of Keurig Green Mountain coffee, has awoken luxury brokers and buyers in coveted Palm Beach by listing his sprawling waterfront mansion for $90 million. The 13,375-square-foot home, which was built in 2013, comes with a deep water dock, seven bedrooms, and over 150 feet of frontage on the Intracoastal Waterway. Stiller — the former coffee king who left the Green Mountain board in 2013 — and his wife, Christine, have not owned the home for long, buying it in 2023 for $66 million, according to the Palm Beach Daily News. The potential $24 million windfall the couple could make on the home, not including fees, closing costs, and capital gains taxes, works out to about $2 million per month of ownership. Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – The Stillers have picked an opportune time to sell, as Palm Beach homes have sold for record-high prices since the election. According to Douglas Elliman data, single-family homes in the wealthy South Florida enclave have seen 31 sales, an increase of 63.2% compared to Q1 over the same period last year. Higher-end home sales have been particularly robust, with median sales prices of $13.95 million enjoying an 11.6% jump year-over-year. The luxury sector, representing the top 10% of the market, was up 22.2% over the previous year. According to the report, median sales in the highest echelon also soared to $23.75 million, a 70.9% increase from a median of $13.9 million a year earlier. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — It's unlikely Stiller, whose net worth is $508 million, will be counting on selling his home to pay his bills. The innovative coffee magnate made his fortune by selling coffee and K-Cups, the now-popular single-serve coffee pods. Despite a financial setback in 2012, when he was forced to sell 5 million shares to cover margin calls to cover loans taken against his position, Stiller has enjoyed success after success. Stiller initially sold coffee as a retailer in Vermont after discovering Green Mountain Coffee Roasters during a ski trip to the state in the 1980s, Inc. reported, but stopped that side of the business to focus on manufacturing. The company went public in 1993 and enjoyed a soaring stock price in the 2000s, during which time Green Mountain became one of the first coffee companies to join the Fair Trade movement. In 2006, Stiller invested in a single-serving coffee machine company, Keurig. In 2016, the company was bought for $13.9 billion and taken private by JAB Holding, owner of Peet's Coffee and other brands, according to multiple media sources. Keurig Green Mountain and Dr Pepper Snapple Group merged in 2018 in a deal worth $18.7 billion, to form Keurig Dr Pepper (NASDAQ:KDP), multiple outlets reported. Keurig owns or partners with multiple brands to produce different varieties of its single-serve coffee Keurig has received criticism about the environmental impact of its K-Cups, Stiller prefers to consider the company's overall impact. 'I feel overall we made a positive impact with the company. It reminds me of when we were doing a lot of Fair Trade coffee,' he told Inc. 'We got pushback from some Fair Trade companies: How could we sell regular coffee? 'I think you need to be successful as an organization, first and foremost,' Stiller said. 'We needed to have a complete coffee offering. We got into [food services company] Sodexo with our regular coffee, and then a couple of years later, they switched to Fair Trade. You've got to do what's right to build the strength of your company.' Read Next: , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock Send To MSN: 0 This article Keurig Coffee King Wakes Up Big Money Buyers, Listing His Palm Beach Mega Mansion For $90 Million originally appeared on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Remodeled estate lists for $90 million on the Intracoastal Waterway in Palm Beach
Coffee tycoon Robert 'Bob' Stiller and his wife, Christine, are asking $90 million for their extensively renovated lakefront house in Palm Beach, according to a new sales listing. A limited liability company linked to the Stillers paid a recorded $66 million for the estate at 1350 N. Lake Way in 2023. The couple then carried out a major remodeling project, building records show. The seller in the 2023 deal was a company controlled by casino-and-resort mogul Steve Wynn. The new listing is the most expensive Palm Beach property being marketed in the Palm Beach Board of Realtors Multiple Listing service. Built in 2013, the seven-bedroom house faces about 150 feet of lake frontage and has a deep-water dock, the new listing says. The lot measures eight-tenths of an acre and is nine streets south of the inlet at the north tip of the island. In all, the house has about 17,000 square feet of living space, inside and out, according to the sales listing. Broker Christian Angle of Christian Angle Real Estate holds the listing. He declined to discuss the property, and the Stillers could not immediately be reached for comment. Robert Stiller co-founded and is the former CEO of the Keurig Green Mountain coffee empire. The company today is known as Keurig Dr Pepper Inc. The Stillers' ownership company — 1350 North Lake Acquisitions LLC — bought the two-story, Bermuda-style house in April 2023 after Wynn and his wife, Andrea Hissom Wynn, had remodeled it for resale. A Wynn-controlled company had paid $49 million for it in April 2021 as an investment property. Angle's sales listing went active May 13 and describes the 'pristine' estate as a 'rarely available' property on the Intracoastal Waterway. 'This rare and luxurious home boasts breathtaking lake and sunset views from all principal rooms,' the listing says. Among the home's features are stone and hardwood flooring, high ceilings and rooms filled with natural light, the listing says. The layout features two primary bedroom suites — one on the first floor and one on the upper level. The formal living room has a fireplace and French doors opening to a covered loggia, one of two that overlook the lakeside pool. The listing also mentions a library, a formal dining room with a butler's panty and a family room open to the breakfast area and kitchen. There's also a fully equipped 'professional chef's kitchen.' Wittmann Building Corp. of West Palm Beach was the contractor for the Stillers' renovations, according to courthouse records. Contractor Paul Wittmann declined to comment. The Stillers' company bought the house shortly after the couple sold their oceanfront mansion at 589 N. County Road for around $170 million — a deal that still holds the record as the most-expensive residential property ever sold in Palm Beach, the Palm Beach Daily News has confirmed. In the sale on North County Road, Angle represented the buyers, car car-dealership magnate Michael Cantanucci and his wife, Kimberly, while broker Lawrence Moens of Lawrence A. Moens Associates acted for the sellers. Moens handled both sides of the 2023 sale on North Lake Way. The house on North Lake Way was built by Palm Beach real estate developer and investor Patrick Carney and his wife, Lillian, who used it as a custom home for themselves. * To see more photos of 1350 N. Lake Way in Palm Beach, click on the photo gallery near the top of this page. This is a developing story. Check back for updates. Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly 'Beyond the Hedges' column. He welcomes tips about real estate news on the island. Email dhofheinz@ This article originally appeared on Palm Beach Daily News: Remodeled lakefront estate lists for $90 million in Palm Beach
