Palm Beach: (561) 659-5113
Dominican Republic: (809) 523-2273

NetJets founder sells Jupiter mansion at a loss

Jersey buyer purchased waterfront home at 20% discount


The founder of NetJets, a precursor to companies like JetSmarter and JetSuiteX, just took off from his waterfront Jupiter mansion.

Property records show Richard and Margaret Santulli sold their home at 370 Eagle Drive to Stateside Investments Limited, a company with a Jersey address, for $5.73 million.

The nine-bedroom, nearly 15,000-square-foot estate was listed for about six months with Rob Thomson of Waterfront Prop. & Club Communities. It was on the market for $7 million and closed at a 20 percent discount.

The property features a master suite, hand-painted sinks, a stained glass dome skylight, five fireplaces, marble and wood floors, a full-house generator and home theater, according to the listing.

The Santullis paid $9 million for the mansion in 2002, which means they sold it at a loss. Richard Santulli founded NetJets, a company that pioneered the timeshare concept for business jets. In the late 1990s, he sold the company to Warren Buffett’s Berkshire Hathaway for $725 million.

Single-family home sales in Palm Beach County fell 3.8 percent to 1,261 closings last month, according to the Florida Realtors.

IDX MLS IDX Listing Disclosure © 2014

Information in regards to real estate and homes for sale or other listings may have come from a cooperative data exchange service. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from a cooperative data exchange program of the multiple listing service (MLS) in which this real estate firm (Broker) participates. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. We provide all information about homes for sale and real estate or other listings as is with absolutely no warranties. This site will be monitored for 'scraping' and any use of search facilities of data on the site other than by a consumer looking to purchase real estate, is prohibited. Feel free to contact our agents to find a great specialist.