Offshore buyer drops $32M on Palm Beach spec home

Lakefront home was listed for nearly $40M, traded at a 20% discount

Apr.April 05, 2017 11:15 AM

1330 South Ocean Boulevard in Palm Beach

An offshore entity closed on a Billionares’ Row estate in Palm Beach for $31.59 million, property records show.

Luxury home developer Mark Pulte of Mark Timothy sold the lakefront mansion at 1330 South Ocean Boulevard to Sunshine Estate Partners of Switzerland. It was on the market for $39.5 million, which means it traded at a 20 percent discount. The price does not likely include furnishings. No financing was recorded.

The five-bedroom 14,704-square-foot home is the first of two side-by-side spec homes that Pulte developed, which were formerly part of the Casa Apava estate. Pulte bought the lots for a total of $24.9 million in 2014. The second, slightly larger 16,787-square-foot home at 1340 South Ocean, is listed for $42.5 million.

Both homes have 180 feet of waterfront, infinity pools, and private docks. Benjamin Schrier of Affinity Architects designed the Mediterranean-style properties, and  Mark Thee of Marc-Michaels Interior Design designed the interiors. Lawrence Moens is the listing agent for both properties.

Linda Gary of Linda A. Gary Real Estate represented the buyer, according to the Palm Beach Daily News. It sold furnished.

Fox News founder and former chairman Roger Ailes paid $36 million for another Mark Pulte spec home at 6 Ocean Lane in September. Moens was also the listing agent for that home. That deal marked the fourth new house to sell for more than $30 million in less than a year, including a spec mansion at 1695 North Ocean Way, which sold for $44 million in March 2016.

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