Billionaire video game developer pays $71M for McMackins’ waterfront Manalapan estate

Billionaire video game developer Gabe Newell paid $70.9 million for Cindy and Ron McMackin’s lake-to-ocean estate in Manalapan, just south of Palm Beach.  The McMackins, who own the engineering subcontracting firm Pan-Pacific Mechanical, sold their 22,900-square-foot, 2-acre mansion at 1660 South Ocean Boulevard to Building Florida Home LLC, a company managed by Newell. The LLC financed the deal with a $46 million mortgage from Morgan Stanley.  Newell co-founded and is the majority owner of the video game company Valve Corporation, which developed games that include Half-Life and the company’s digital distribution service called Steam.  His seven-bedroom, 11-and-a-half-bathroom estate in Manalapan […]

This article originally appeared on The Real Deal. Click here to read the full story.