The Real Deal Miami

Worldcenter developer buys $19M Delray Beach mansion

William Powers took out an $11.4M mortgage from City National Bank

February 13, 2015 01:30PM

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William901

901 South Ocean Boulevard and William Powers

The $19 million Delray Beach mansion that sold on Tuesday was purchased by a Miami Worldcenter developer.

William Powers, hedge-fund manager and Worldcenter co-developer, purchased the oceanfront estate at 901 South Ocean Boulevard, according to a published report. The home had been under contract for 40 days before construction finished a week ago.

A company titled Delray 901 S. Ocean sold the home. It purchased the property in 2013 for $6 million.

Powers took out a $11.4 million mortgage from City National Bank on the property, the South Florida Business Journal reported. He manages the Boca-Raton based Strand Partners hedge fund and is a general partner for Worldcenter developer Sandbridge Capital and Encore housing, the publication reported.

The two-story, 12,153-square-foot mansion sits on a one-acre lot and has a direct path to the beach. The home has six bedrooms, seven bathrooms and an outdoor pool. [South Florida Business Journal]Sean Stewart-Muniz

 

  • Richard Raab

    We wish him well and hope he enjoys his Jefferson Presidential Bourbon sent to him
    Zach Magaziner.

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