Auto Dealer Sets Palm Beach Record With $170 Million Home Purchase

real state

For Maria K. Jacob

April 28, 2023 | 3:43 p.m

Luxury car dealer Michael Cantanucci really went the extra mile when he found his next property.

Cantanucci, owner of New Country Motor Car Groups, one of the nation’s largest independent auto dealers, plunked down a whopping $170 million for a beachfront estate in Palm Beach.

That set a record price for a single-family home on the luxury island, where celebrities and dignitaries including Donald Trump, Bill Gates, Serena Williams, Mark Zuckerberg, Jimmy Buffett and Rod Stewart own homes.

Until that deal, which went off-market, billionaire William Lauder had a record price when he bought Rush Limbaugh’s former home for $155 million, according to the Wall Street Journal, which was the first to inform about the transaction.

Lauder recently listed two parcels in Palm Beach for a total of $200 million. So, if he is able to hit his asking price, he will break the all-time record for the island.

Meanwhile, since the sale was 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 leave very happy. Records show the Steelers paid just $25 million for the property in 2014.

Built in 2006, the mansion initially had eight bedrooms and 12 bathrooms.

Occupying more than 20,000 square feet, the home was expanded in 2015 and now includes 10 bedrooms and 19 bathrooms.

The Mediterranean-style house also has a swimming 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 preview of the home states.

When it comes to statewide records, however, Larry Ellison takes the cake. The Oracle Corporation co-founder paid $173 million for a waterfront mansion in Manalapan, just 25 minutes south of Palm Beach.

Cantanucci’s company has locations in New York, Connecticut, Florida, Maryland and Pennsylvania – they sell Audis, BMWs, Ferraris, Lexus, Maseratis, Porsches, Minis and more.

Additionally, Cantanucci and his wife, Kimberly, have another home in Palm Beach that they are under 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 house, records show.

In 2021, they sold a New York City unit at 220 Central Park South for just over $40 million. And now they’re buying a $50 million-plus unit at nearby 111 W. 57th St., according to the Journal.