Tarte Cosmetics CEO buys record-setting Longboat home for $9.45M

Longboat Key’s highest single-family home sale of 2023 closed on Friday at $9,450,000 for the 4,820-square-foot property located at 6877 Gulf of Mexico Drive.

A limited liability corporation called 6877 Gulf of Mexico purchased the property from Todd Lee Borck. The principal address listed for 6877 Gulf of Mexico Drive LLC is listed as 133 Lowe St. in Tavernier, Florida. That property sold in 2020 for $6.7 million to the Maureen A Kelly Irrevocable Trust; Michael Kelly, trustee; and Scott McDonough, trustee.

Maureen Kelly is the CEO and founder of Tarte Cosmetics. McDonough is a member of Tarte's executive team.

Originally built in 1998, the three-story home has four bedrooms, four-and-a-half bathrooms, a four-car garage and a pool.

Courtesy photo

David Liberatore was the listing agent with Better Homes and Gardens Real Estate. He also sold the home to its previous owner about two years ago, when it sold for $4.8 million. The previous buyer performed a total renovation, according to Liberatore.

Major renovations to the property include hurricane-impact glass, a gourmet kitchen, bathroom remodeling, a new driveway, a new pool and completely redone upper and lower decks. 

“Literally everything was done to the house,” Liberatore said. 

The renovations took more than a year and were done throughout the COVID-19 pandemic, which Liberatore said made things a little more challenging.

Courtesy photo

The house stayed on the market for 436 days, according to Liberatore. He said this was a little longer than houses of this type typically sit for in the area. Liberatore had the listing sitting “in the pocket” for about five months, he said, but the timing wasn’t right. The house wasn’t ready yet. 

“By the time we actually got to the market, it was late into the stabilization of the market instead of the craziness we had,” Liberatore said. 

Liberatore said a lot of consideration went into the marketing for this property, which he attributes most to the successful sale. 

“I didn’t just put it on the MLS and let it sit,” Liberatore said. 

The property was featured in many publications and magazines, according to Liberatore. He also said pictures of the property were kept fresh as renovations continued. With every change or addition to the house, Liberatore said new stagings and new pictures had to be done.