Philip Solomon, the executive chairman of Palladio Beauty Group, dropped $14.5 million on a waterfront Golden Beach mansion.
Records show Alberto and Rossana Franco sold the property to Solomon and his wife, Joanna Solomon.
The deal was closed off-market, but the South Island Drive home was previously listed by Oren Alexander and Isaac Lustgarten of Official, social media shows.
Solomon founded Miami-based Palladio Beauty in 1999, LinkedIn shows. He is also managing director of Hollywood-based Solomon Capital Management, a real estate investment firm.
Alberto Franco is a former hedge fund manager with Bulltick Capital Markets and Quantek Asset Management in Miami. He and Rossana Franco bought the 0.4-acre Golden Beach property for $3.4 million in 2006, records show. They built the 8,900-square-foot mansion in 2010. It has six bedrooms, seven bathrooms, two half-bathrooms, a pool, and 100 feet of waterfront along the Intracoastal Waterway, according to property records and a former listing.
The Francos have listed the mansion on-and-off since 2012, Realtor.com shows. It firsted listed for $11 million that year, and was delisted in 2015. The mansion relisted for $15.9 million in 2021, before they upped the asking price to $22.3 million in 2022. The price was slashed three times last year, and the listing was removed in February.
Other recent Golden Beach deals include lawyer, electronics mogul and real estate investor Michael Newman’s $10.5 million sale of a renovated waterfront home in January. In November, Dr. Mazin Shikara and Julissa Shikara bought an oceanfront home in Golden Beach for $15.5 million. They purchased the house six months after selling their waterfront Jupiter estate for a record $27.5 million. In October, billionaire developer Ben Ashkenazy sold an oceanfront lot for $29 million.