Billionaire Quogue Capital founder Wayne Rothbaum sold a second oceanfront lot in Delray Beach for $22 million, bringing his total sale to $44 million in three months.
Records show his 941 South Ocean Blvd LLC sold the 1.4-acre property at 941 South Ocean Boulevard to another entity named for the address and managed by Coral Springs-based attorney Larry Rothenberg. It mirrors his May sale of the adjacent lot at 939 South Ocean Boulevard, which also went to an entity controlled by Rothenberg for $22 million. The combined value of the sales is $44 million.
Nick Malinosky with Douglas Elliman represented both sides in the latest deal.
In both cases, the buyer financed the purchases with $14.3 million mortgages from City National Bank of Florida. The latest mortgage lists a mailing address as the Stuart location of Sherban Spine Institute, a spinal practice with eight locations throughout Florida, led by Dr. Ross Sherban. Sherban sold an Ocean Ridge home for $10.1 million in 2021.
Rothbaum founded New York City-based Quogue in 2001 with a focus on biotech investments, and is considered one of the most successful investors in that segment, according to Forbes. He founded and invested in cancer drug developer Acerta Pharma, which later sold to AstraZeneca for $7 billion. His net worth today is $2.6 billion, according to Forbes.
He bought the 941 South Ocean Boulevard lot for $8.3 million in 2013, according to property records. It has 110 feet of beach frontage, according to a previous listing.
Rothbaum has ties to other Delray Beach properties. In 2021, a Delaware entity linked to Quogue bought an oceanfront mansion at 855 South Ocean Boulevard for $34 million.Other recent deals in Delray Beach include digital marketing mogul Jeffrey Herzog’s sale of his mansion for $23.5 million in May.
