Mark Pulte sells waterfront Palm Beach lot for $23M

Pulte sold a neighboring property in February for $33M

Mark Pulte and 445 North Lake Way Palm Beach
Mark Pulte and 445 North Lake Way Palm Beach

 

Mark Pulte and 445 North Lake Way Palm Beach

Mark Pulte and 445 North Lake Way Palm Beach

Luxury homebuilder Mark Pulte sold a lakefront lot in Palm Beach for $23 million, just a few weeks after selling a neighboring property.

Pulte sold the 0.8-acre lot at 445 North Lake Way to PB Coastal LLC, property records show. The buyer is a Delaware corporation managed by law firm Kochman and Ziska PLLC.

Pulte bought the property from Bill McDermott, a software company executive, and his wife Julie for $16.9 million in November. The couple received approval last summer from the town of Palm Beach to build a custom home on the site, according to the Palm Beach Daily News.

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Pulte, founder, president and CEO of Mark Timothy Inc., and his investors have built and sold a number of luxury spec homes in Palm Beach, Manalapan, Ocean Ridge and Boca Raton.

In February, Pulte sold a lakefront estate at 446 North Lake Way that he recently completed for $33.2 million. That property also sold to a company managed by Kochman & Ziska.

The Kennedy family’s former Palm Beach compound, where President John F. Kennedy worked on his 1961 inaugural address, recently sold for $70 million.

Palm Beach experienced a record year in 2019, with two deals closing for more than $100 million each.

Hedge funder Ken Griffin has amassed the largest portfolio of residential land on the island, paying about $350 million over the years.

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