Coffee Mogul Takes $24 Million Loss on Palm Beach Mansion
Robert Stiller, co-founder of Green Mountain Coffee Roasters, experienced a bitter end to his Palm Beach real estate venture. The coffee billionaire listed his luxurious waterfront mansion for $90 million in May but accepted an offer of just $66.14 million this week—barely exceeding the $65 million he paid for the property three years ago.
A High-Profile Property with Impressive Features
The 13,300-square-foot Colonial-style residence sits on North Lake Way and offers premium waterfront amenities including a deepwater dock. Built in 2013, the seven-bedroom, nine-bathroom estate boasts high ceilings, a covered loggia, resort-style pool with hot tub, and flexible garage spaces currently functioning as a gym and staff quarters. The property represents the pinnacle of Palm Beach luxury real estate, though the sale price reflects softer market conditions.
From Record-Breaking Success to Modest Returns
The contrast with Stiller’s previous sale could hardly be sharper. Just three years earlier, in April 2023, the entrepreneur sold his oceanfront Palm Beach estate for a staggering $170 million—setting the record for the priciest home sale in Palm Beach history. This latest transaction demonstrates the volatility of ultra-luxury real estate markets, where even trophy properties can struggle to maintain their valuations in changing market conditions.
For Stiller, the sale represents a sobering reality check in an otherwise stellar business career built on the success of Green Mountain Coffee Roasters, which eventually acquired the popular Keurig brand.