A spec home in Palm Beach, developed by the wife of a South Florida builder, sold for $7.2 million.
Pearls of the Palm Beaches LLC, managed by Susan Shulman, sold the 4,682-square-foot home to Howard and Kerrie Lance, according to records.
Shulman, the wife of Ron Pertnoy, a principal of West Palm Beach-based Shapiro Pertnoy Companies, bought the home at 1556 North Ocean Boulevard for $2.7 million in 2018, the same year she started Pearls of the Palm Beaches LLC, records show. Five months after the purchase, Shulman demolished the home on the site and started from scratch.
The new, four-bedroom, five-and-a-half bathroom home was built by Shapiro Pertnoy Companies.
Pearls of the Palm Beaches was represented by Christian Angle with Christian Angle Real Estate, while the buyers were represented by Robert Goodnough of Sotheby’s International Realty. The house was listed in June for $8 million, according to Realtor.com
Howard Lance is the former CEO of Maxar Technologies, a space technologies company, and is the current chairman of Summit Materials and Change Healthcare, according to his LinkedIn. He was also previously an executive advisor at the Blackstone Group.
Records show Pearls of the Palm Beaches broke ground on an additional property in Boca Raton this year.
This month, another spec house in Palm Beach sold for $6 million. Also in Palm Beach, casino magnate Neil Bluhm bought a townhouse for $7.4 million, and a venture capital firm founder bought a condo for $6 million.