Mark Pulte sells waterfront Palm Beach lot for $23M

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.

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.