Former Tyco Tycoon’s Boca Real Estate is on the Market

The Koslowski’s have put their Boca Raton mansion on the market for $24,900,000. Consisting of 8 bedrooms and 8 bathrooms in 14,985 square-feet that sit on about 604 feet of deepwater shoreline, the home is a spectacle of it’s own. Decorated by Marc Michaels, the home is filled with a neutral palate of warm brown and beiges.  High ceilings and arched French doors accompany the marble stair casing and herringbone pattern wood floors.  The Sanctuary point compound suggests an exotic Moroccan elegance with the main residence and guesthouse exuding specific Marrakesh-style that pours into both home’s grand loggia. The indoor and outdoor living areas interweave ideally throughout the romantic gardens and pool providing a mysterious glamour and allure.  It’s almost a shame to attach the name Koslowski to the residence.

The notorious Dennis Koslowski, former Tyco International CEO, was convicted in 2005 for misappropriating and illegally pocketing hundreds of millions of dollars of Tyco’s money.  Despite the fact he claimed he was innocent, the egregious fraud earned him $239,000,000 worth of fines and restitution and 8 to 25 years at the Mid State Correctional Facility in Marcy, New York, courtesy of a Manhattan Supreme Court judge.

However, his financial malfeasance isn’t the only characteristic that caused the Koslowski name to be infamous, but it also was his extremely lavish lifestyle—paid for by Tyco.  In fact, the press really loved to hate him for throwing his second wife, Karen, a two million dollar weeklong birthday back in Sardinia.  The former waitress’s party included a birthday cake in the shape of a woman’s body and an ice sculpture in the shape of Michelangelo’s David, complete with vodka streaming from… well, David.  Clearly there is no price on taste.  But the real zinger here was that Koslowski admittedly paid for half of the bash with Tyco’s money and defending the decision by stating some of the guests were Tyco employees.

However, their taste in real estate was much more sophisticated, but still offensively indulging considering they didn’t pay for any of it.  In 2001, Koslowski purchased a duplex at the chic 950 Fifth Avenue for $16,800,000—then spent $12,000,000 in renovations.  Once completed, the duplex was elaborately adorned with such décor, as a $6,000 shower curtain and a $15,000 umbrella stand (questionable to begin with but knowing the stand was in the shape of a giant poodle just ads to the humor of it all).  Additionally the pair owned a prime 8 bedroom 10 bathroom ski chalet in Beaver Creek, Colorado, which sold in 2006 for $10,000,000, and a luxurious ocean front estate on Nantucket Island which has been on the market since 2006 and is now asking $16,45,000.

When the Tyco tycoon moved from these really big houses to the real big house, his wife filed for divorce.  Tyco representatives state that the amicable divorce is simply part of a scheme to facilitate, “an asset transfer arrangement designed to take assets out of the Koslowski’s name and place them in the hands of a ‘supporter,’ but out of reach of this court and his creditors.”  Either way, the homes are for sale, and maybe if you ask, your company will make the down payment.

Via: Realestalker