Private equity titan buys Palm Beach estate asking $140M: sources

Spec homebuilder Mark Pulte sold 21K sf mansion

Miami /
Feb.February 11, 2021 03:15 PM
Scott Shleifer and 535 North County Road in Palm Beach (Photos via LinkedIn, Google Maps)

Scott Shleifer and 535 North County Road in Palm Beach (Photos via LinkedIn, Google Maps)

Private equity titan Scott Shleifer paid more than $120 million for an oceanfront mansion in Palm Beach, setting a record for residential sales in Florida and marking one of the most expensive home sales in the U.S., The Real Deal has learned.

The property hit the market last month and closed on Thursday, sources said. The deed was recorded on Friday for $122.7 million.

A company managed by luxury homebuilder Mark Pulte, who is the son of Pulte Homes founder William Pulte, built and sold the spec home at 535 North County Road to a Florida land trust. Former President Donald Trump once owned the site.

Shleifer is a partner and co-founder of Tiger Global Management, an investment firm based in New York with offices in Hong Kong, Beijing, Singapore and Bangalore.

The Palm Beach lot was previously part of a larger property that Trump sold to Russian billionaire Dmitry Rybolovlev for $95 million in 2008. Rybolovlev subsequently razed that house, subdivided the property into three lots, and sold them off for nearly $109 million. Pulte’s entity paid $37 million for his lot in 2017.

Chris Leavitt of Douglas Elliman and Ryan Serhant of Serhant

Chris Leavitt of Douglas Elliman and Ryan Serhant of Serhant

Lawrence Moens of Lawrence A. Moens Associates has the listing for the spec home and had an investment interest in the property. Ryan Serhant of Serhant and Chris Leavitt of Douglas Elliman represented the buyer. Moens could not be reached for comment and Serhant and Leavitt declined to comment.

The 2-acre, 21,000-square-foot mansion, 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.

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

Amazon founder Jeff Bezos holds the record for the highest price paid in the U.S. for a single-family home, paying $165 million last year for David Geffen’s Jack Warner Estate in Beverly Hills.

Billionaire hedge fund manager Ken Griffin has paid more than $350 million assembling land in Palm Beach.






    Related Articles

    arrow_forward_ios
    450 Royal Palm Way and the buyer H. William Perry. (Google Maps, Gunster)
    Banker’s Row office building in Palm Beach sells for $17M
    Banker’s Row office building in Palm Beach sells for $17M
    Carl Panattoni and 965 North Ocean Boulevard (Photos via Panattoni Europe, Google Maps)
    Carl Panattoni sells oceanfront Palm Beach property for $34M to Stock Development
    Carl Panattoni sells oceanfront Palm Beach property for $34M to Stock Development
    David Tepper and 905 North Ocean Boulevard (Getty, Google Maps)
    Hedge fund billionaire David Tepper paid $68M for Palm Beach mansion
    Hedge fund billionaire David Tepper paid $68M for Palm Beach mansion
    The property has 5 bedrooms in the main house and 2 in the guesthouse. (901 North Ocean blvd)
    Palm Beach developer lists spec mansion next door to David Tepper’s for $84M
    Palm Beach developer lists spec mansion next door to David Tepper’s for $84M
    David Tepper and 905 North Ocean Boulevard (Getty, Google Maps)
    Carolina Panthers owner to buy $73M Palm Beach mansion
    Carolina Panthers owner to buy $73M Palm Beach mansion
    Cobey Rapaport and 790 South County Road, Palm Beach (Getty, Google Maps)
    South Florida developer’s widow sells waterfront Palm Beach mansion for $31M
    South Florida developer’s widow sells waterfront Palm Beach mansion for $31M
    535 North County Road and Mark Pulte with former President Donald Trump (Google Maps; Pulte Family Foundation; Getty)
    Spec home built on Trump’s former Palm Beach property under contract for $140M
    Spec home built on Trump’s former Palm Beach property under contract for $140M
    1330 South Ocean Boulevard (Compass)
    Waterfront Palm Beach mansion sells for $41M
    Waterfront Palm Beach mansion sells for $41M
    arrow_forward_ios

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

    Loading...