By Jordan Pandy
Courtesy of TheRealDeal
A managing director at BlackRock paid $7.3 million for a waterfront property in Jupiter‘s Admirals Cove neighborhood.
Records show 197 Spyglass LLC, a Delaware corporation that lists the New Jersey address of Rick Rieder, bought the home at 197 Spyglass Court from Justin and Robin Thorn Daniels. The sellers flipped the house in three months for a 12 percent profit.
Rieder joined New York-based BlackRock, an investment management company that has managed $8.7 trillion in assets, in 2009.
The Daniels couple, who own and operate the Jupiter-based real estate and investment holding company, Daniels Holdings, bought the home for $6.5 million in November. They listed the property this month for $7.8 million.
Rob Thomson of Waterfront Properties & Club Communities represented both parties in the deal.
The 6,047-square-foot house is on a nearly 30,000-square-foot lot and has four bedrooms and seven-and-a-half bathrooms. It also features a pool and a private dock. It was built in 1991.
Rieder plans to demolish the current home and build a new one, Thomson said.
Donald Trump Jr. and his girlfriend Kimberly Guilfoyle are under contract to buy two homes in Admirals Cove, which Thomson also has the listings for.
Earlier this month, the co-founder of a global ad tech company bought a mansion for $6.7 million and the previous month, an attorney and his wife bought a waterfront home for $6 million – both in Admirals Cove.
In August, a former executive at BlackRock bought a Palm Beach house for $8.7 million.