Palm Beach spec mansion sells for $48M

Palm Beach spec mansion sells for $48M

A spec mansion in Palm Beach that’s only five blocks north of the Mar-a-Lago Club sold for $50 million.

The deed in county records was for $48 million. Often in sales of high-end homes, there’s additional compensation for furnishings and other non-real estate assets sold that aren’t included on the deed.

The 10,100-square-foot home at 1030 S. Ocean Blvd. was sold by 1030SOcean LLC, managed by Nedim Soylemez , a veteran commodities trader who’s co-founder of Palm Beach-based Lion’s View Holdings. The buyer was the 1030 South Ocean Trust with attorney Martin L. Edelman as trustee Chris Deitz of Compass represented the seller in the deal.

Located across the street from the beach in the Estate Section, the home was built on the 0.58-acre site in 2021. It features eight bedrooms, 10 bathrooms, five half-bathrooms, a pool with a spa, a cabana room, a wine cellar, a game room, a gym, and a media/theater room.

Palm Beach-based Rogers General Contracting Corp. built the home.

This continues the flurry of high-end home sales in Palm Beach as prices climb higher.

Meanwhile, Soylemez still owns a Palm Beach home he bought for $10 million in November.

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