Oceanfront mansion in Delray Beach sells for $18M

Oceanfront mansion in Delray Beach sells for $18M

A mansion along the ocean in Delray Beach sold for $18 million.

QCRE II LLC, managed by New York-based Quogue Operations Management and Stacey Cohen , the in-house attorney of its affiliate Quogue Capital, sold the 12,107-square-foot home at 1171 S. Ocean Blvd. The buyer was 1171 Ocean LLC, which is a Delaware-registered company that has the same Deerfield Beach address as disaster relief company AshBritt Environmental.

The sale was brokered by Nick Malinosky of Douglas Elliman.

The home last sold for $12 million in 2016, so it had a nice gain in value. There’s been a spike in luxury home sales in South Florida as more wealthy people move to the area, so that has driven up prices.

In fact, Malinosky just put the home back on the market for $24.95 million, according to Realtor.com.

It was built on the 0.9-acre site in 1994. The home features seven bedrooms, eight bathrooms, three half-bathrooms, an elevator, a bar, a pool, and a theater/game room.

Meanwhile, another company affiliated with Quogue Capital purchased a Delray Beach mansion for $34 million in October. Malinosky brokered that deal as well. Quogue Capital is a biotech-focused venture capital firm founded by Wayne P. Rothbaum in 2002.

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