The Real Deal Miami

Ryan Homes founder sells Palm Beach lot

Schar family trust sold it for $1M more what it paid in 2015
By Keith Larsen | January 15, 2019 10:35AM

Dwight Schar

The Schar family, which founded one of the largest homebuilders in the country just sold a lot in Palm Beach, property records show.

Dwight Schar founded NVR Inc., the parent company of Ryan Homes, NV Homes, NVHomes, Rymarc Homes, Fox Ridge Homes and Heartland Homes, and is part owner of the Washington Redskins. The Schar Family Trust sold the roughly 10,500-square-foot plot at 125 Gulfstream Road to the Bishop Family Trust, which is based in Connecticut, for $6.7 million.

The property is just a few houses down from the ocean and South Ocean Boulevard. It last sold in 2015 for $5.6 million. The Schar family also owns the home next door at 133 Gulfstream Road.

Brokers expect there will be a surge of wealthy buyers moving to Palm Beach from the Northeast to take advantage of Florida’s tax laws.

In 2016, law firm owners George and Beverly Rawlings bought a property nearby at 102 Gulfstream Road for $13.9 million.