Trust of former WCI Communities CEO buys North Palm Beach mansion for $13M

Trust of former WCI Communities CEO buys North Palm Beach mansion for $13M

A trust in the name of Alfred Hoffman Jr. , the former CEO of homebuilder WCI Communities, paid for $13 million for a waterfront mansion in the Lost Tree Village neighborhood near North Palm Beach.

Paul D. Reback and Sharon K. Reback , who are both agents at Reback Realty in North Palm Beach, sold their 6,134-square-foot homestead residence at 11235 Old Harbour Road. It was listed by Reback Realty. The price equated to $2,119 a square foot.

The Rebacks built the home, on a 0.62-acre site along the Intracoastal Waterway, in 2003. This is the first time it has sold.

The home features six bedrooms, 7.5 bathrooms, a pool, a dock, an upstairs loft, a fireplace, an office and a covered patio.

Hoffman has been active in North Palm Beach real estate this year. In May, his trust sold a mansion on Seminole Beach Road for $29.5 million. The trust purchased a home on Turtle Beach Road for $5.27 million in February.

Hoffman and Don Ackerman bought Westinghouse Communities in 1995 and renamed it WCI Communities. The company became one of the largest homebuilders in Florida before Lennar Corp. (NYSE: LEN) acquired it for $643 million in 2017. Hoffman sold his stake in the company in 2005, as he was named ambassador to Portugal. He has continued to invest in real estate.

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