The Real Deal Miami

North End lots in Palm Beach trade for $12M

Buyer's LLC is affiliated with luxury homebuilder Mark Pulte

December 26, 2013 04:30PM

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An aerial shot of Ocean Lane showing the vacant lots (Credit: Palm Beach Daily News)

An aerial shot of Ocean Lane in Palm Beach showing the vacant lots (Credit: Palm Beach Daily News)

A Boca Raton-based limited liability company affiliated with luxury homebuilder Mark Pulte has paid $12 million in two separate deals for a North End oceanfront vacant lot and an adjacent empty parcel in Palm Beach, according to city records filed Monday.

The buyer, named in city records as 6 Ocean Lane LLC paid $7.475 million for the oceanfront half-acre lot and $4.6 million for the attached smaller lot, Palm Beach Daily News reported. The sellers of the properties at 6 Ocean Lane and 5 Ocean Lane – located south of the Beach Club – were Montreal-based H. Greg and Chantal Chamandy, who paid $12.8 million for them in 2006, according to the Daily News.

Lawrence Moens represented both sides of the deal, sources told the Daily News, but the newspaper could not reach him for comment.

Pulte is a prominent builder of homes in Delray Beach, Gulf Stream and Boca Raton, according to the Daily News. [Palm Beach Daily News]Hiten Samtani

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