Area builder sells home on east coast for $57 million
The Stock Custom Homes estate was sold before it was finished.
Business Observer Staff
| 8:54 a.m. February 3, 2022
Stock Custom Homes, a unit of Naples-based Stock Development, recently sold an oceanfront estate on the east coast of Florida it built on spec for $57 million.
The 13,000-square-foot property, at 916 South Ocean Boulevard in Palm Beach on what’s known locally as Billionaires Row, was listed for $59 million and was sold prior to completion, according to a statement. With design and architecture partners Marc-Michaels Interior Design, Dailey Janssen Architects, and Nievera Williams Design, the home was Stock’s “most ambitious project to date,” the release adds.
The buyer, according to Palm Beach County property records, is MAWA 916 LLC. Palm Beach attorney Louis Hamby, an attorney and shareholder with Alley, Maass, Rogers & Lindsay, manages that entity, according to Florida Department of State records. No other information was available on the buyers in records or statements.
Stock paid $12 million for the Palm Beach beachfront property in 2017, records show.
The two-story, multi-structure estate features sprawling ocean views from the living room, library and master suite, and direct beach access the release states. It has eight bedrooms, 10 bathrooms and three half bathrooms, including a second-floor guest apartment.
Stock Custom Homes is working on another luxury estate in the area, the release adds, at 965 North Ocean Blvd.