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To pay more than $90 million for a property that is going to be demolished.

Cashflow In Miami
June 18, 2022

Software billionaire Phillip Ragon is the buyer of three adjacent oceanfront homes in Golden Beach, paying more than $90 million for the properties that he intends to tear down.

Ragon, CEO of the software firm InterSystems, is buying the houses at 287, 291 and 299 Ocean Boulevard from three sellers, including American fashion photographer Bruce Weber and his wife, film producer Nan Bush, sources confirmed.

The deals are separate from Ragon’s home at 667 Ocean Boulevard. He and his wife, Susan, paid $20 million for that house last year, which previously belonged to baseball star Sammy Sosa.

Ragon founded InterSystems, a software systems and technology company based in Cambridge, Massachusetts, in 1978. He’s worth about $1.7 billion, according to Forbes.

Property records show B. Mitchell and Lori Grabois are selling the largest estate, a 7,293-square-foot home at 299 Ocean Boulevard. The Graboises paid $1.3 million for that home in 1990. It was built in 1936 and later expanded.

Weber and Bush paid $3 million in 2002 for their 4,757-square-foot home at 291 Ocean Boulevard, which was built in 1932.

Silverlane Realty LLC paid about $3.6 million for the 3,681-square-foot house at 287 Ocean Boulevard in 2003. It was built in 1956.


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