Freedom Mortgage CEO drops $20M on Ocean Ridge estate

Beachfront home sold for $1,500 per sf

Jun.June 18, 2018 02:30 PM

6161 North Ocean Boulevard (Credit: Douglas Elliman)

Freedom Mortgage Corporation founder and CEO Stanley Middleman paid $19.9 million for a waterfront home in Ocean Ridge.

Ocean Ridge 6161 N.Ocean LLC sold the 13,500-square-foot, five-bedroom mansion at 6161 North Ocean Boulevard in Palm Beach County to Middleman and his wife, Roslyn Middleman, for about $1,475 per square foot, property records show.

Middleman created Freedom Mortgage, a national, full-service mortgage banking firm based in Mount Laurel, New Jersey.

Donna Sotillo signed the deed on behalf of the seller, which is controlled by Marlin Younker and Jon Hanson. Younker is founder and co-chairman of the board at US Endoscopy, a manufacturer of endoscopy devices.

Nick Malinosky and Randy Ely of Douglas Elliman represented the seller. The 1.55-acre property hit the market about a year ago for $24.9 million. It sold at a 20 percent discount.

Marsha Wolf of Luxury Partners Realty represented the buyer.

The estate, completed last year, features white oak wood and limestone flooring, two garages, a pool, outdoor bar and smart home technology, according to a release. It was designed by Affinity Architecture and developed by Mark Pulte’s Mark Timothy Homes.

Property records show the beachfront site last sold for $6.15 million in 2013.

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