January 22, 2021
The granddaughter of Mohammad-Reza Shah has just sold a waterfront property in Florida for $5.5 million.
The owner of a European hotel chain bought the property that sits on the Intracoastal Waterway in Boca Raton, Florida.
The granddaughter is Mahnaz Zahedi, 62, who is the daughter of Shahnaz Pahlavi, the first child of the late Shah and his first wife, Princess Fawzia of Egypt. Mahnaz’s father is Ardeshir Zahedi, once Iran’s ambassador to the US and foreign minister.
The buyer, Mikhail Avrutin, is the owner and developer of Baltic Hotel Group, a hotel chain that operates two hotels in Estonia.
Records show Zahedi and her husband, Mehrdad Fallah-Moghaddam, bought the home in 2001 for $1.9 million.
The home was first listed in 2018 at $6.3 million and after a few price changes, was most recently listed for $6 million in September of this year, according to Realtor.com.
The 5,248-square-foot (588 square meters) house was built in 1980. It has five bedrooms, four-and-a-half bathrooms and lies on the Intracoastal Waterway, which lies just inland from the Atlantic Ocean and provides a secure and calm passageway along the entire East Coast for small boats.