Offshore buyer drops $32M on Palm Beach spec home

Miami /
Apr.April 05, 2017 11:15 AM

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.


Related Articles

arrow_forward_ios
1440 South Ocean Boulevard and Sydell Miller (Google Maps, Getty)
Facelift required: Beauty mogul sells Palm Beach lot for $42M
Facelift required: Beauty mogul sells Palm Beach lot for $42M
450 Royal Palm Way and the buyer H. William Perry. (Google Maps, Gunster)
Banker’s Row office building in Palm Beach sells for $17M
Banker’s Row office building in Palm Beach sells for $17M
Carl Panattoni and 965 North Ocean Boulevard (Photos via Panattoni Europe, Google Maps)
Carl Panattoni sells oceanfront Palm Beach property for $34M to Stock Development
Carl Panattoni sells oceanfront Palm Beach property for $34M to Stock Development
David Tepper and 905 North Ocean Boulevard (Getty, Google Maps)
Hedge fund billionaire David Tepper paid $68M for Palm Beach mansion
Hedge fund billionaire David Tepper paid $68M for Palm Beach mansion
The property has 5 bedrooms in the main house and 2 in the guesthouse. (901 North Ocean blvd)
Palm Beach developer lists spec mansion next door to David Tepper’s for $84M
Palm Beach developer lists spec mansion next door to David Tepper’s for $84M
David Tepper and 905 North Ocean Boulevard (Getty, Google Maps)
Carolina Panthers owner to buy $73M Palm Beach mansion
Carolina Panthers owner to buy $73M Palm Beach mansion
Scott Shleifer and 535 North County Road in Palm Beach (Photos via LinkedIn, Google Maps)
Private equity titan buys Palm Beach estate asking $140M: sources
Private equity titan buys Palm Beach estate asking $140M: sources
Cobey Rapaport and 790 South County Road, Palm Beach (Getty, Google Maps)
South Florida developer’s widow sells waterfront Palm Beach mansion for $31M
South Florida developer’s widow sells waterfront Palm Beach mansion for $31M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...