Waterfront spec home on Palm Beach’s Billionaire’s Row sells for $33M

The sale comes a week after Steve Wynn sold the lot next door

TRD MIAMI /
Jul.July 13, 2018 02:30 PM

1340 South Ocean Boulevard in Palm Beach

A spec home on Billionaire’s Row in Palm Beach just sold for $32.5 million to a family trust, a week after billionaire Steve Wynn sold his lot next door.

Mark Timothy Inc., a South Florida luxury home builder, sold the 14,434-square-foot waterfront estate at 1340 South Ocean Boulevard to the Greene Family Trust for $2,251 per square foot. The trust lists its attorney as Oren D. Leiber in Miami, and is dated June 19. It was unclear who is behind the trust.

Florida gubernatorial candidate and real estate developer Jeff Greene, who has the same last name tied to the trust and also owns a home on South Ocean Boulevard, told The Real Deal he didn’t purchase the home.

Mark Timothy Inc. is led by Mark Pulte, son of the founder of Pulte Homes. The South Ocean Boulevard home was built in 2016 on a vacant lot purchased in 2014 for $13.4 million. The two-story estate has eight bedrooms and 11 bathrooms and pool. It was previously listed in 2016 for $42.5 million.

The seller was represented by Lawrence Moens of Lawrence A. Moens Associates, while the buyer was represented by Dana Koch and Paulette Koch of the Corcoran Group.

Dana Koch declined to comment on the buyer, citing a confidentiality agreement he signed. Moens could not immediately be reached for comment.

Last week, casino resort developer Steve Wynn sold the neighboring lot at 1350 South Ocean Boulevard for $20.27 million. The property sold for 23 percent less than original asking price. Wynn resigned this year as chairman and CEO of Las Vegas-based Wynn Resorts amid allegations that he sexually assaulted employees of the company.

Pulte’s spec homes have been sold to celebrities and CEOs such as the late former-Fox News head Roger Ailes and Tony Robbins. Some of the wealthiest people in the country have homes on Billionaires Row including hedge fund manage Ken Griffin and Paul Tudor Jones.


Related Articles

arrow_forward_ios
Doug and Karin Waggoner with the property at 137 Woodbridge Road (Credit: Google Maps and Southern Methodist University)

Former BlackRock exec pays $9M for Palm Beach house with Mar-a-Lago membership included

Former BlackRock exec pays $9M for Palm Beach house with Mar-a-Lago membership included
South Florida Resi Contracts Up in July (Credit: iStock)

South Florida resi contracts continued to rise in July

South Florida resi contracts continued to rise in July
350 Indian Road and (inset) Frank H. Kenan (Realtor, Kenan Institute)

Scion of Kenan family sells Palm Beach mansion for $8M

Scion of Kenan family sells Palm Beach mansion for $8M
113 Clarke Avenue, Peter J. Wood, Edwin Lin (Realtor.com)

Citadel hedge fund exec buys Palm Beach home for $10M

Citadel hedge fund exec buys Palm Beach home for $10M
Schuyler Tilney and 222 Ridgeview Drive (Linkedin, Sotheby's)

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house
1744 South Ocean Boulevard (Credit: Google Maps and iStock)

Oceanfront Palm Beach estate trades for $51M

Oceanfront Palm Beach estate trades for $51M
Rendering of 259 Pendleton Ave. with Jonathan Fryd, Todd Glaser and Scott Robins (Glaser by Mary Beth Koeth)

Todd Glaser, partners buy Palm Beach lot to build spec home

Todd Glaser, partners buy Palm Beach lot to build spec home
920 North Lake Way, Jeffrey Marcus of Marcus Cable, and Patrick Ryan of Press Ganey (Credit: Google Maps)

Cable mogul buys waterfront Palm Beach home for $16M

Cable mogul buys waterfront Palm Beach home for $16M
arrow_forward_ios

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

Loading...