Strand Partners hedge-fund manager and Miami Worldcenter co-developer William Powers just sold his mansion in Delray Beach for $26.75 million.
The deal for the two-story, 13,090-square-foot manse at 901 South Ocean Boulevard breaks down to a whopping $2,044 per square foot. The deal has not yet cleared property records. It was first reported by the Palm Beach Post.
Powers paid $19 million for the property in 2015, about a year after it was built. It hit the market with Devin Kay of Douglas Elliman for nearly $29 million in October – meaning it sold for only a seven percent discount off its original asking price. Nicholas Malinosky of Douglas Elliman’s Sports & Entertainment Division represented the buyer, whose identity is unknown.
Kay and Malinosky were not immediately available to comment.
The home has five bedrooms, six-and-a-half bathrooms and an outdoor pool. Marc-Michaels Interior Design and Affiniti Architects designed the house, which was built by Boca Raton-based luxury home developer Mark Timothy.
The 1.1-acre property is right off of South Ocean Boulevard where wealthy investors and entrepreneurs like Richard A. Chaifetz also own properties. Chaifetz paid a record $34 million in Delray Beach for a neighboring mansion at 921 South Ocean Boulevard in 2016. He also recently sold a home in Highland Beach for $8.4 million.
In December, Powers purchased a 2.13-acre waterfront lot in Manalapan $13.5 million. His firm Strand Partners works with Art Falcone’s Encore Capital Management, which is co-developing the $1.2 billion mixed-use Miami Worldcenter project. [Palm Beach Post] – Amanda Rabines