Ritacco Seeks $1.3 Million Profit in Sale of Lavish Seaside Home
Seaside Park–Former Toms River Schools Superintendent Michael Ritacco’s 5 bedroom, 7 bath ocean view mansion is now on the block just days before he is scheduled to appear in court for sentencing on his conviction of mail fraud and tax evasion after admitting accepting upwards of $2.5 million in bribes during his tenure with the district.
It’s a home description that reads more like that of a Hollywood star. A 7 bath, 4,280 square foot half-mansion with heated indoor pool and 9 foot ceilings, located just a few houses in from the beach along the Atlantic Ocean.
The home was custom built in 2005 and features a custom 12 seat bar for entertaining your guests and has 11 total rooms. The concrete heated pool is accompanied by a spa for the summer and three fire places to keep cozy all winter long.
The grounds of the home have been beautifully landscaped and manicured.
If you’re thinking about buying the home where the once powerful school superintendent resided, it’s going to cost you. The home is being listed for $2,225,000 by Childre’s Sotheby’s International. It seems Ritacco also isn’t yet done capitalizing on his gains made as superintendent. He bought the home for just under $900,000 and is hoping to make a whopping $1,325,000 profit on the sale.
Ritacco has already lost $1,000,000 and his Mercedes, according to court documents.
Posted by Ocean County News
on Sep 6 2012. Filed under Community, Photos, Police Blotter, Seaside Park, Toms River.
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