Miami Worldcenter co-developer flips waterfront lot in Manalapan

William Powers made $1M in four months

TRD MIAMI /
Apr.April 25, 2018 01:30 PM

1020 South Ocean Boulevard and William C. Powers (Credit: Redfin and LinkedIn)

Miami Worldcenter co-developer William Powers just made a quick $1 million flipping a waterfront lot he bought in Manalapan just four months ago.

The Strand Partners hedge fund manager paid $13.5 million for the 2.13-acre lot at 1020 South Ocean Boulevard in December, and just sold it for $14.5 million to Paul and Victoria Saunders, property records show.

Paul is the founder of the Richmond, Virginia-based investment firm James River Capital Corporation and his wife Victoria helps run the Chrysalis Institute cultural learning center, also in Richmond.

Powers was looking to make more off the oceanfront lot. It hit the market in January for $17.9 million with broker Christian Angle of Christian Angle Real Estate, according to Redfin. It sold at a 19 percent discount off the original ask.

The property includes a dock fronting the Intracoastal Waterway on the west side of South Ocean Boulevard and more than 200 feet of ocean frontage on the east side.

Powers has been busy in Palm Beach County. In March, he sold a mansion in Delray Beach for about $27 million and bought a Palm Beach estate with fellow hedge fund manager Marianne Elaine Elmasri for $39.4 million.


Related Articles

arrow_forward_ios
640 South Ocean Boulevard (Credit: Zillow)

Oceanfront mansion in Manalapan sells for $36M

Oceanfront mansion in Manalapan sells for $36M
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Christian Angle and 1920 South Ocean Boulevard

Car dealer buys waterfront Manalapan estate for $10M

Car dealer buys waterfront Manalapan estate for $10M
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Diesel family dishes on Wynwood condo project
 4601 Le Jeune Road, Jose Boschetti and Maurice Boschetti

Gables Residential sells dev site near Shops at Merrick Park

Gables Residential sells dev site near Shops at Merrick Park
arrow_forward_ios

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

Loading...