Massachusetts doctor pays $5.95 million for Lagomar Road home |

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Updated: 11:08 a.m. Friday, July 1, 2011 | Posted: 5:30 p.m. Wednesday, June 29, 2011

Massachusetts doctor pays $5.95 million for Lagomar Road home

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Massachusetts doctor pays $5.95 million for Lagomar Road home photo
The home at 8 Lagomar Road has more than 5,400 square feet of total living space, inside and out, and a private dock on the Intracoastal Waterway.

By Darrell Hofheinz

Daily News Real Estate Writer

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 Wednesday.

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 million.

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 Wednesday.

County property records show that Otto owns three Palm Beach apartments that he bought with his wife, Eileen, in the Sloan’s Curve condominium development.

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.

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