Developer Mark Pulte has sold an oceanfront mansion in Delray Beach for $59 million, marking a significant return on his investment. Public records indicate that 701 South Ocean LLC, controlled by Pulte, transferred ownership of the estate at 701 South Ocean Boulevard to a trust established for the property. The sale was brokered by Pascal and Joe Liguori of Premier Estate Properties, with Pascal and Antonio Liguori representing the buyer.
Mark Pulte is the son of Bill Pulte, founder of PulteGroup. His own son, Bill Pulte Jr., currently serves as director of the Federal Housing Finance Agency. Mark Pulte leads Mark Timothy Incorporated, a company known for developing luxury speculative homes in Palm Beach County.
In previous transactions, Pulte sold a lakefront estate in Palm Beach for $33.2 million in 2020 after acquiring the land for $14 million three years earlier. That same year, he sold a vacant lot on the island for $23 million.
Pulte purchased the 1.2-acre Delray Beach property in 2020 for $11.1 million and completed construction on the 14,000-square-foot mansion in 2023. According to listings and property records, the home features five bedrooms, nine bathrooms, two half-bathrooms, a pool, and 120 feet of ocean frontage.
The mansion was first listed at $44.9 million in 2021. In 2023, the asking price was raised to $74 million, according to Zillow.
The sale adds to a series of high-value transactions in Delray Beach recently. Earlier this month, actor Mark Wahlberg purchased a mansion in Stone Creek Ranch near Delray Beach for $32.6 million. Wayne Rothbaum, founder of Quogue Capital, sold two adjacent oceanfront lots for a combined $44 million after buying them for $18.3 million. In May, Jeffrey Herzog, CEO of a digital marketing firm, and his wife Jill Herzog sold their mansion for $23.5 million.
