Spec home built on Trump’s former Palm Beach property under contract for $140M

It hit the market briefly in January

Miami /
Feb.February 08, 2021 01:45 PM
535 North County Road and Mark Pulte with former President Donald Trump (Google Maps; Pulte Family Foundation; Getty)

535 North County Road and Mark Pulte with former President Donald Trump (Google Maps; Pulte Family Foundation; Getty)

An oceanfront mansion in Palm Beach is under contract for nearly $140 million, a record price in Florida that would place it as one of the most expensive home sales in the U.S.

The buyer is a New York resident relocating to Palm Beach, according to the Wall Street Journal.

A company managed by luxury home builder Mark Pulte, who is the son of Pulte Homes founder William Pulte, owns the property and built the spec home at 535 North County Road. Former President Donald Trump once owned the site.

It hit the market briefly in January.

The lot was previously part of a larger property that Trump sold to Russian billionaire Dmitry Rybolovlev for $95 million in 2008. Rybolovlev subsequently razed that house, subdivided the property into three lots, and sold them off for nearly $109 million. Pulte’s entity paid $37 million for his lot in 2017.

Lawrence Moens of Lawrence A. Moens Associates has the listing for the spec home and has an investment interest in the property.

The 2-acre, 21,000-square-foot mansion, with a separate guest house, has nine bedrooms, an oceanfront swimming pool, a gym, sauna and hair salon. William M. Boyle of Boyle Architecture designed the house. The lot has 150 feet of shoreline.

Neighbors include billionaire investor Nelson Peltz, who co-founded Trian Fund Management, an alternative investment management fund based in New York.

Amazon founder Jeff Bezos still holds the record for the highest price paid in the U.S. for a single-family home, paying $165 million last year for David Geffen’s Jack Warner Estate in Beverly Hills.

Billionaire hedge fund manager Ken Griffin has paid more than $350 million assembling land in Palm Beach.

[WSJ] – Katherine Kallergis





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