Mark Pulte’s homebuilding firm buys Delray Beach oceanfront lot for $11M

Sellers Michael and Judith Rothberg had previously planned to build a home on the site

Miami /
Sep.September 18, 2020 04:30 PM
Mark Pulte & 701 South Ocean Boulevard, Delray Beach (Credit: Google Maps)

Mark Pulte & 701 South Ocean Boulevard, Delray Beach (Credit: Google Maps)

South Florida luxury homebuilding firm Mark Timothy bought an oceanfront lot in Delray Beach for $11 million, likely with plans to build a spec house.

Records show 701 South Ocean LLC, managed by Mark Timothy Inc., bought the lot at 701 South Ocean Boulevard from Michael J. and Judith F. Rothberg.

Mark Timothy is led by Mark Pulte, son of the late founder of Atlanta-based PulteGroup, Bill Pulte. PulteGroup is the third largest homebuilder in the U.S, according to its website.

The sale was brokered by Pascal Liguori of Premier Estate Properties. The property was initially listed in August 2019 for $20 million.

The Rothbergs bought the 1.19-acre oceanfront property in 2017 for $13.4 million, and demolished the home on the site that year, records show. In July 2019, the Rothbergs filed documents to construct a new single-family residence and pool, among other improvements. However, Anthony Liguori confirmed that the property sold as an empty lot.

Requests for comment from Mark Timothy were not returned.

Mark Timothy is a Boca Raton-based luxury construction firm that has built numerous homes in South Florida. A Palm Beach spec home developed by the firm sold for $33 million in 2018.

Delray Beach had a busy August. The founder of the Flex Seal Family of Products paid $20 million for a one-acre compound near Delray Beach. A former CEO at Equifax and Fidelity National Information Services sold his waterfront Delray Beach mansion for $5 million.






    Related Articles

    arrow_forward_ios
    Matthew Sodl and 800 Seagate Drive, Delray Beach (Google Maps)
    Investment banker drops $5M on Delray Beach spec home
    Investment banker drops $5M on Delray Beach spec home
    President and CEO at Caron Treatment Centers Doug Tieman with the units. (Google Maps, LinkedIn via Doug Tieman)
    Addiction treatment center operator pays $12M for Delray Beach apartments
    Addiction treatment center operator pays $12M for Delray Beach apartments
    Billionaire hedge fund manager Dan Loeb and renderings of 6440 North Bay. (Third Point, To Better Days Development)
    Billionaire hedge funder Dan Loeb buys waterfront Miami Beach estate: sources
    Billionaire hedge funder Dan Loeb buys waterfront Miami Beach estate: sources
    535 North County Road (Palm Beach Property Appraiser)
    Oceanfront Palm Beach spec mansion hits the market, asking record $140M
    Oceanfront Palm Beach spec mansion hits the market, asking record $140M
    Lennar's Stuart Miller, Rick Beckwitt  with the site (Google Maps; Lennar)
    Lennar pays $8M for South Miami-Dade housing community site
    Lennar pays $8M for South Miami-Dade housing community site
    Laurent Morali and Charles Kushner (iStock)
    Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
    Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
    Rendering of The Linton and Craig Menin
    Menin Development wins initial approval for redevelopment of Delray Beach shopping center
    Menin Development wins initial approval for redevelopment of Delray Beach shopping center
    Dayna Martz & 995 South Ocean Boulevard (Google Maps)
    Daughter of late Walmart CEO buys his waterfront Delray Beach home for $8M
    Daughter of late Walmart CEO buys his waterfront Delray Beach home for $8M
    arrow_forward_ios

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

    Loading...