Dr. John R. Romano, a Massachusetts urologist, has paid a recorded $5.95
million for a lakefront home at 8 Lagomar Road, according to the warranty
deed filed Tuesday with the Palm Beach County Clerk’s office.
Romano bought the Mediterranean-style, five-bedroom house from Jonathan Otto,
a real estate investor and entrepreneur whose company, RetailDNA Inc., was a
pioneer of so-called “smart-technology” cash registers.
Romano was represented by real estate agent Samantha Curry of Fite Shavell &
Associates, who gave few details about the sale in a brief conversation
Agent Heather Woolems Rogers of Sotheby’s International Realty had last listed
the house at $6.995 million, a little more than the $6.925 million Otto paid
for it in 2006. In 2009, the property had been offered for as much as $7.9
Rogers did not return a phone message seeking comment for this story.
With a little more than 5,400 square feet of “total” living space, inside and
out, the house has a private dock on the Intracoastal Waterway. The property
lies a little more than a mile south of the Southern Boulevard traffic
circle on a cul-de-sac that runs northwest from South Ocean Boulevard.
The sales listing for the renovated house, built in 1965, described it as
having “picturesque water views” from all major rooms.
Romano has a private medical practice in Plymouth, Mass., near his home in
Duxbury. He also is affiliated with Jordan Hospital in Plymouth. Romano, who
is unmarried, according to the June 22 deed,could not be reached for comment
County property records show that Otto owns three Palm Beach apartments that
he bought with his wife, Eileen, in the Sloan’s Curve condominium
Earlier, Jonathan Otto owned Rockbottom Stores, a family discount drugstore
chain, and Metro Centers, a real estate management company specializing in
New York City area shopping centers.
Otto also is an art collector who founded the Palm Beach-based First
Highwayman Corp., an organization dedicated to preserving the folk art
created by the artists known as the Florida Highwaymen. Its address is the
same as the one on the deed for the Lagomar Road property.