Billionaire Quogue Capital founder Wayne Rothbaum sold an oceanfront lot in Delray Beach for $22 million in an off-market deal.
Records show Rothbaum’s 939 S Ocean Blvd LLC, a Delaware entity, sold the 1.1-acre property at 939 South Ocean Boulevard to a Florida LLC named for the address and managed by local attorney Larry Rothenberg. The true buyer is unknown.
The buyer financed the purchase with a $14.3 million loan from City National Bank of Florida, according to property records.
Rothbaum founded New York City-based Quogue in 2001, and went on to become one of the most successful biotech investors of his generation, according to Forbes. He was a founder and investor in Acerta Pharma, a cancer drug developer that later sold to AstraZeneca for $7 billion. His net worth today is $2.7 billion, according to Forbes.
He bought the Delray Beach property for $10 million in 2014, according to property records. It is adjacent to the 1.4-acre oceanfront lot at 941 South Ocean Boulevard that he bought for $8.3 million in 2013, records show.
Rothbaum’s lot at 939 South Ocean Boulevard has 110 feet of beach frontage, according to a previous listing. He previously listed it in 2021 asking $30 million, but it was removed from the market in 2022, Redfin shows.
Rothbaum is linked to other Delray Beach properties. Records show a Delaware entity affiliated with his investment firm bought an oceanfront mansion for $34 million in 2021.
His land sale is the latest expensive deal in the coastal enclave. In January, boxing legend Mike Tyson dropped $13 million on a Delray Beach spec mansion. Also in January, a member of the Cafaro real estate family bought a spec estate from developer Aldo Stark for $55 million in Stone Creek Ranch, a gated community in unincorporated Palm Beach County near Delray Beach. In December, Stark sold another spec estate in the community for $36.8 million.