Investment banker drops $5M on Delray Beach spec home

Seller built the home in 2018

Miami /
Jan.January 22, 2021 11:30 AM
Matthew Sodl and 800 Seagate Drive, Delray Beach (Google Maps)

Matthew Sodl and 800 Seagate Drive, Delray Beach (Google Maps)

An investment banker bought a Delray Beach spec home for $5.1 million.

Matthew J. Sodl and his wife, Cathryn, bought the house at 800 Seagate Drive from Ron Adzima, records show.

Sodl is the founding partner, president and managing director of El Segundo, California-based Innovation Capital. Founded in 2004, Innovation Capital serves mid-market gaming, leisure, restaurant and retail industries, according to its website.

Adzima bought the property in 2017, through Nines Development Co LLC, for $1.5 million, according to records. That same year, Adzima demolished the existing home and began to build a new house.

The home was finished in 2018 and put on the market in March of 2019 for $5 million, according to Realtor.com. The asking price rose as high as $5.7 million in August, and was most recently $5.3 million in October.

Candace Friis with the Corcoran Group represented both sides of the deal.

Built by Delray homebuilder Ocean Blue Custom Homes, the house has five bedrooms, five full bathrooms and three half-bathrooms, according to the listing. The 5,413-square-foot house has 12-foot ceilings on the ground floor and a saltwater pool.

This year, the estate of the late president and CEO of Walmart sold his waterfront home in Delray Beach for $8.4 million.

Also in Delray Beach, Max Weinberg sold a home for $5.15 million, and the estate of a late developer sold his mansion for $5.8 million.





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