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 islandâs off-season lull, according to . The property, listed for $96 million, iđĽs now in contract. It was represented by Lawrence Moens, of Lawrence A. Moens Associates.
Riggio, who turned Barnes & Noble into a bookselling juggernaut, âlisted the sprawling 1.7â-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.
âIf theyâre here now, they mean busđiness,â one agent ŕźştold The Post.
Oceanfront properties in Palm Beach are the ultimate status symbols, rarely hitting the market. This yearâs only other big-ticđket sales include Daren Metropoulos dropping $148 million on an estate in June, and Ideavillage founder Anand Khubanđiâs $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 Limbaughâs 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 dâespite broader market trends.
Riggioâs mansion, built inâ 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 arenât saying gđšoodbye to Florida completely. His wife, Louise Riggio secured an $8.1 million home in Wellingtonâs equestrian village in June.
The couple also has a home in New York Cityâs posh 720 Park Ave., as well as a 13-acre estate in the Hamptons.