The CEO of the finance planning firm LAMCO Advisory Services Inc. and his wife just sold their lakefront mansion at the Reserve at Lake Butler Sound community in Windermere for $2.5 million.
Located at 11019 Bridge House Road, the 2.95-acre estate features a two-story home built in 2008 by Clayton Jones Construction with seven bedrooms and 11 baths across 9,376 square feet, under air.
The sellers, Nicholas and Paula Lamoriello, paid $1 million for the site in 2006, and shortly after began developing the brick masonry home with tall archway entrances, a clay barrel tile roof and coffered ceilings.
Other definitive features include a master suite with three walk-in closets, a bar with a built-in coffee maker and a private screened balcony boasting views of Lake Butler. The residence also includes a home theater, gaming room, three-car garage and 142 feet of lake frontage.
A trust represented by attorney William R. Lowman Jr., bought the property, according to a deed recorded last week in Orange County. The true identity of the buyers remains unknown.
Emily Lewis with Lakeside Realty Windermere Inc. had the most recent listing. Declining to comment on the parties involved, she said she acquired the listing about eight months ago.
According to Realtor.com, the home has been on and off the market since 2014 when the sellers asked for as much as $4.95 million. The most recent transactions reflects a 49 percent discount off the original ask.
Homes along the coast of Lake Butler have long attracted the wallets of business execs and celebrity athletes. Nearby, basketball icon Shaquille O'Neal listed his massive 3-acre estate at 9927 Griffin Court for $28 million. The former Lake Butler home of Tampa Bay Buccaneer star Warren Sapp sold in 2017 for about $4 million.
That same year, an entity tied to the international bank Barclays paid $4 million for a home on Kirkstone Lane in the guard-gated community.
Reserve at Lake Butler Sound consists of 300 homes and 48 estate custom homes. Houses in the neighborhood have fetched as high as $6 million, Lewis said. At one time, one of the highest listings in the neighborhood reached $18 million. That property has since been placed off the market with no new buyer, according to Lewis.