Vacant Lot on Palm Beach’s ‘Billionaire’s Row’ Hits the Market for a Jaw-Dropping $200 Million

A prime plot of land on “Billionaire’s Row” in Palm Beach, FL, has hit the market for the jaw-dropping price of $200 million—just days after billionaire Estee Lauder heir William Lauder reportedly sold off a near-identical property for $178 million.

The 2-acre, ocean-to-lake parcel at 1980 South Ocean Boulevard is delivered vacant, offering its future owner a one-of-a-kind opportunity to construct their dream home from scratch—without the need for any demolition work to clear away an existing structure.

“When looking at the neighboring properties on ‘Billionaire’s Row,’ this property is truly the last of its kind,” notes listing agent Shelly Newman, of The Corcoran Group.

“There is no demolition needed, there is no remodeling needed, this property allows for first-time, ground-up, new construction.”

Indeed, the “trophy property” listing describes the land as “the only available vacant lot in Palm Beach” with both private oceanfront and private Intracoastal water frontage.

“In Palm Beach proper, there are only approximately 20 properties that expand from ocean to Intracoastal, and this property is one of those few exclusive parcels,” Newman adds. “When you add on that the property has yet to be developed, it is even more of a once-in-a-lifetime property.”

The two-lot offering incorporates water-fronting land that stretches out to the ocean and, on the other side, to the lake.

The property has come on the market before: In 2022, it was listed for $150 million. Previously, it had been in the hands of the same owner—attorney and real estate investor Nathan Royce Silverstein—since the 1960s.

Last year, however, the vacant lot came off the market, only to return today with the new, much higher price tag.

The locale is reportedly next door to the estate of billionaire casino mogul Steve Wynn, according to the Palm Beach Daily News, in an area that’s known locally as “Billionaire’s Row.”

As its nickname might suggest, the community is home to some incredibly wealthy individuals who have filled the neighborhood with some jaw-dropping megamansions over the years—however, this is the last remaining vacant plot that would allow for the construction of a brand-new home.

The tree-covered lot has another benefit going for it: It comes with renderings for a future residence, which notes the time and money potentially saved for a buyer, while still allowing the new owner flexibility on customizing the design, architectural style, floor plan, and amenities.

The renderings from New York and Palm Beach-based architect Richard Sammons, of Fairfax & Sammons, present a graceful Mediterranean compound with an infinity pool and a massive underground multicar garage, along with spotless landscaping.

The listing states that the “notable high elevation” for a waterfront lot allows for the possibility of building two homes on the land.

This isn’t even the first of such “pre-build” offers to become available in the area.

Along with Lauder’s recent land debut to market, there’s also a record-setting listing for $285 million in Manalapan, FL, which calls itself the country’s “most expensive new construction home,” with an estimated completion date of 2026.

While the scarcity of such plots may command such price tags, rare is the sale at such a high-flying amount.

Hedge funder Kenneth Griffin paid $238 million for a Central Park South penthouse in 2019.

Last year, a Malibu, CA, deal smashed the market for $210 million.

But with the balance of power shifting to the Sunshine State and President Donald Trump‘s “Southern White House” of Mar-a-Lago, the area has become attractive to megadeals: Many Florida real estate listings regularly fill the Realtor.com® list of the most expensive properties each week.

However, a recent sale in Palm Beach of an existing, renovated waterfront home traded at a $20 million discount after two years on the market.