The Real Deal Miami

Company linked to Congressional hopeful flips Delray mansion for $12M

After one year, seller pulled in $2M return on original purchase price

May 04, 2016 08:45AM
By Sean Stewart-Muniz

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1171 South Ocean Boulevard (Inset: Randy Perkins)

1171 South Ocean Boulevard (Inset: Randy Perkins)

A company tied to Florida Congressional hopeful Randy Perkins just flipped a waterfront mansion in Delray Beach for $12 million.

About one year ago, a company called Sea to Seaside Development II LLC paid $10 million for the sprawling beachfront mansion at 1171 South Ocean Boulevard. County records show it’s managed by Randy Perkins, CEO and founder of the disaster response company AshBritt. The price per square foot for that sale stood at a little over $1,024.

Perkins also is in the midst of a self-funded campaign for the District 18 Congressional seat that Patrick Murphy is vacating in his own bid for a spot in the U.S. Senate.

With seven bedrooms, nine full bathrooms and 9,761 square feet of living space, the Delray Beach home is more like a gated luxe compound that boasts modern finishes and 100 feet of beach frontage.

After roughly a year of holding the beachfront mansion, Perkins’ company has sold it to a Delaware limited liability company named QCRE II for a cool $2 million return. Because of Delaware’s notoriously opaque public records, the true owner behind QCRE II is unknown.

Nicholas Malinosky and Randolph Ely of the Corcoran Group brokered the deal for both sides.