Zillow
It’s a new chapter for Leonard Riggio, the founder and former executive chairman of book giant Barnes & Noble, who has sealed the deal for his swanky oceanfront estate in Palm Beach.
The mega-mansion at 1446 North Ocean Boulevard is officially off the market, snatched up amid the island’s off-season lull, according to the Real Deal. The property, listed for $96 million, is now in contract. It was represented by Lawrence Moens, of Lawrence A. Moens Associates.
Riggio, who turned Barnes & Noble into a bookselling juggernaut, listed the sprawling 1.7-acre compound just last month.
He retired from Barnes & Noble in 2016.
Despite the summer exodus of Palm Beach’s wealthy snowbirds, serious buyers are jetting in for quick, high-stakes tours.
“If they’re here now, they mean business,” one agent told The Post.
Oceanfront properties in Palm Beach are the ultimate status symbols, rarely hitting the market. This year’s only other big-ticket sales include Daren Metropoulos dropping $148 million on an estate in June, and Ideavillage founder Anand Khubani’s $85 million splurge in April.
Last year, car dealer Michael Cantanucci snagged a 1.6-acre estate for a cool $170 million, and William Lauder scooped up Rush Limbaugh’s lavish 2.7-acre compound for $155 million.
These trophy properties, each worth $50 million or more, are coveted by the billionaire elite, their values soaring despite broader market trends.
Riggio’s mansion, built in 1979 and boasting 8,000 square feet, has seen a dramatic price increase.
He bought it in 2003 for $14 million and expanded it with an adjacent lot in 2009 for $1.4 million. The estate now features five bedrooms, seven bathrooms, a half-bathroom and a pool — all meticulously renovated.
But the Riggios aren’t saying goodbye to Florida completely. His wife, Louise Riggio secured an $8.1 million home in Wellington’s equestrian village in June.
The couple also has a home in New York City’s posh 720 Park Ave., as well as a 13-acre estate in the Hamptons.