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