Canadian billionaire sells waterfront Boca mansion for $12M

850 Lake Drive in Boca Raton

850 Lake Drive in Boca Raton


Billionaire Alex Schnaider sold his waterfront Boca Raton mansion for $11.5 million to a publishing executive, records show.


Mason Slaine, chairman of FT Media Holdings, bought the five-bedroom home at 850 Lake Drive in Boca Raton. FT Media, which stands for Furniture Today, was acquired by Sandow Media in 2010.


Slaine’s new mansion spans nearly 11,000 square feet on the Intracoastal. It includes a pool, terrace, elevator, summer kitchen and 120 feet of waterfront with multi-yacht dockage. Mark Timothy built the two-story house in 2003, according to the listing.


Property records show Schnaider paid $9.5 million in 2013. The Russian-born Canadian billionaire is a former commodities trader and entrepreneur. He co-founded Midland Group, a company that has a large stake in Ukraine’s fourth-largest steel mill. Forbes pegs his wealth at $1.6 billion.


Joseph Liguori of Premier Estate Properties was the listing agent, while Juliana Testoni of Coral Shores Realty represented the buyer, according to Redfin.


Just last week, a former Canadian hockey pro sold his waterfront home just south of Slaine’s new mansion for $15 million.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s