The Real Deal Miami

Dwight Schar sells another piece of Casa Apava for $11.52M

Boca Raton builder buys Lot 2 within massive Palm Beach estate

October 23, 2014 11:15AM

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Casa Apava and Dwight Schar

Casa Apava and Dwight Schar

Prominent homebuilder Dwight Schar carved out another portion of his Casa Apava in Palm Beach to sell the land to a Boca Raton luxury residential builder.

Schar and his wife Martha got $11.52 million for Casa Apava’s Lot 2 in a transaction recorded on Tuesday, according to Palm Beach County records. A company managed by builder Mark Pulte is the buyer. County records do not indicate how large Lot 2 is within the massive ocean-to-lake estate at 1300 South Ocean Boulevard.

Another Pulte company paid $13 million for the 1.2-acre Lot 3 last month. The Palm Beach Town Council has approved Pulte’s plans to build a 16,447-square-foot mansion with a lakefront cabana.

Three months ago, Schar received $20 million for Lot 4 of the 11.4-acre site. The buyer is believed to be Las Vegas resort developer Steve Wynn. — Eric Kalis

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