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

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