As he closes in on a potential $1.7 billion purchase of Major League Baseball’s Tampa Bay Rays, homebuilding magnate Patrick Zalupski listed his Ponte Vedra Beach residence for $9.9 million in April, The Citizen has learned.
The 6-bedroom, 8-bathroom estate sits on a coveted lot just off the sixth hole of the prestigious Ponte Vedra Inn & Club’s Ocean Course, according to listing agent Jennifer White of Ponte Vedra Club Realty.
Built with Mediterranean-inspired architecture, the 9,469 square foot home on 0.45-acre features a two-story great room, chef’s kitchen, private library, wine cellar, and expansive outdoor living spaces — including a pool, spa, and cabana.
A separate guest suite and views of the fairway bolster its upscale appeal.
According to records, Zalupski bought the original home that stood on the property for $1.1 million in 2016 before demolishing it and erecting its replacement.
Zalupski, 44, is the founder and CEO of Dream Finders Homes, a publicly traded homebuilding firm based in Jacksonville.
Founded in 2008, the company has grown rapidly, building more than 30,000 homes across multiple states.
Zalupski also serves on the University of Florida’s Board of Trustees, further anchoring him within the state’s power and development circles.
The Devil Rays confirmed this week that Zalupski is leading a Florida-based investment group aiming to acquire the Rays from longtime owner Stu Sternberg.
A letter of intent has reportedly been signed, and Zalupski’s group is deep in the due diligence process. If finalized, the deal would need approval from MLB’s ownership group, as required for all franchise transfers.
The backdrop to the deal is a storm-battered stadium future and mounting pressure for leadership change.
Sternberg purchased the team for approximately $200 million in 2004. Despite the Rays’ regular-season success over the past decade — including multiple playoff appearances and a World Series berth — the franchise has struggled with historically low attendance and repeated failures to secure a long-term stadium solution.
In 2023, the team and the City of St. Petersburg had unveiled a $1.3 billion proposal to build a new stadium as part of the redevelopment of the Historic Gas Plant District. That plan collapsed in early 2025 after Hurricane Milton severely damaged Tropicana Field in October 2024. The fallout reignited criticism of Sternberg’s leadership and triggered fresh conversations inside MLB about the team’s future.
