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.






    Related Articles

    arrow_forward_ios
    Steven Cohen and the Boca Raton property (Getty, Douglas Elliman)
    Billionaire Mets owner Steven Cohen buys South Florida mansion for nearly $22M
    Billionaire Mets owner Steven Cohen buys South Florida mansion for nearly $22M
    Renderings of 1625 Ocean. (U.S. Construction)
    US Construction scores $45M construction loan for Delray Beach condos
    US Construction scores $45M construction loan for Delray Beach condos
    Randal Perkins and the Delray Beach house (AshBritt, Douglas Elliman via Getty)
    AshBritt founder flips oceanfront Delray Beach mansion for $22M
    AshBritt founder flips oceanfront Delray Beach mansion for $22M
    Alta Congress apartments at 250 Congress Park Road in Delray Beach and Crow Holdings CEO Michael Levy (Alta Congress, Crown Holdings)
    Crow Holdings buys Delray Beach apartments for $112M
    Crow Holdings buys Delray Beach apartments for $112M
    AshBritt's Randal Perkins and 111 South Ocean Boulevard in Delray Beach (Google Maps)
    AshBritt founder drops $21M on oceanfront Delray Beach mansion
    AshBritt founder drops $21M on oceanfront Delray Beach mansion
    The Addison Place shopping plaza at 16850 and 16950 South Jog Road in Delray Beach with Site Centers CEO David Lukes (left) and Richard Caster of Azure Development (LinkedIn, Azure, Google Maps)
    Site Centers buys Delray Beach shopping plaza for $40M
    Site Centers buys Delray Beach shopping plaza for $40M
    Healthpeak Properties CEO Thomas Herzog. (Healthpeak, Sonata)
    Fortress buys three Palm Beach County assisted living facilities for $30M
    Fortress buys three Palm Beach County assisted living facilities for $30M
    Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
    Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
    Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
    arrow_forward_ios

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

    Loading...