Developer Mark Pulte got a big return on his oceanfront spec mansion in Delray Beach, selling it for $59 million.
Records show his 701 South Ocean LLC sold the estate at 701 South Ocean Boulevard to a trust named for the address. Pascal and Joe Liguori with Premier Estate Properties had the listing, and Pascal, along with Premier’s Antonio Liguori, brought the buyer.
Pulte is the son of the late PulteGroup founder Bill Pulte. His son, the younger Bill Pulte, is director of the Federal Housing Finance Agency. Mark Pulte is also founder of the luxury homebuilding firm Mark Timothy Incorporated, a frequent developer of luxury spec homes in Palm Beach County.
In 2020, he sold a lakefront Palm Beach estate for $33.2 million, after buying the site for $14 million in 2017. That same year he sold a vacant 0.8-acre lot on the island for $23 million.
He bought the 1.2- acre Delray Beach estate for $11.1 million in 2020. He completed the 14,000-square-foot mansion in 2023, according to property records. The mansion includes five bedrooms, nine bathrooms, two half-bathrooms, a pool and 120 square feet of oceanfront, the listing and records show.
It hit the market for $44.9 million in 2021, and Pulte upped the asking price to $74 million in 2023, according to Zillow.
It marks the latest pricey deal in Delray Beach, where sale figures have surged in recent years. Also this month, Mark Wahlberg dropped $32.6 million on a mansion in Stone Creek Ranch, a gated community near Delray Beach. Billionaire Quogue Capital founder Wayne Rothbaum has sold two adjacent oceanfront lots in Delray Beach for $22 million each, for a total of $44 million after buying them for $18.3 million. In May, digital marketing CEO Jeffrey Herzog and his wife, Jill Herzog, sold their mansion for $23.5 million.
