Oceanfront Palm Beach spec mansion hits the market, asking record $140M

Company tied to luxury homebuilder Mark Pulte built the estate and is selling it

535 North County Road (Palm Beach Property Appraiser)
535 North County Road (Palm Beach Property Appraiser)

An oceanfront spec mansion in Palm Beach hit the market for $140 million, marking the most expensive residential listing in South Florida.

Before the estate at 535 North County Road was built, it was part of a larger property that President Donald Trump sold in 2008 for $95 million. Trump sold the property to Russian billionaire Dmitry Rybolovlev in 2016, who knocked down the previous mansion and subdivided the land.

In 2018, Rybolovlev sold the Palm Beach lot to a company tied to spec home developer Mark Pulte of Mark Timothy Inc. for $37 million. Lawrence Moens of Lawrence A. Moens Associates has the listing, according to the Palm Beach Daily News, citing information on the Multiple Listing Service. Moens, a top broker in Palm Beach, also has an investment interest in the 2-acre, 15,350-square-foot mansion.

The $140 million price tag includes furniture. The property, with a separate guest house, has nine bedrooms, an oceanfront swimming pool, a gym, sauna and hair salon. William M. Boyle of Boyle Architecture designed the house. The lot has 150 feet of shoreline.

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Rybolovlev sold the three lots for nearly $109 million, about $14 million more than Trump’s sale price.

Neighbors include billionaire investor Nelson Peltz, who co-founded Trian Fund Management, an alternative investment management fund based in New York.

The Ziff estate at 2000 South Ocean Boulevard in Manalapan is the second most expensive listing in South Florida at $115 million, according to Realtor.com.

[Palm Beach Daily News] – Katherine Kallergis