The Real Deal Miami

Russian billionaire sells lot from former Trump estate for $37 million

Dmitry Rybolovlev bought the estate from Trump for $95 million in 2008
October 07, 2017 09:00AM

The oceanfront estate in Palm Beach that President Donald Trump once owned (Credit: RobertStevens.com) and Dmitry Rybolovlev, who razed the house and subdivided the lot. (Credit: Francknataf).

One of three oceanfront lots subdivided from a Palm Beach estate President Donald Trump once owned has been sold for $37 million.

The two-acre lot at 535 North County Road had been listed for sale for $39.8 million.

The new owner of the lot is a Boca Raton company linked to Mark Pulte of luxury home building firm Mark Timothy Inc.

It is the northernmost of three lots subdivided from an oceanfront estate that Trump sold to Russian billionaire Dmitry Rybolovlev for $95 million in 2008. Rybolovlev subsequently razed the house on the property he bought from Trump.

It is the second lot sold by Rybolovlev, who sold the first lot in November 2016 for $34 million.

Broker Lawrence Moens had the listing for the northernmost lot, and he also represented Pulte in the transaction. [Palm Beach Daily News] — Mike Seemuth