Larry Ellison, billionaire co-founder of Oracle, has decided to hold off on taking the wrecking ball to his North Palm Beach, FL, estate.
In April 2021, Ellison paid $80 million for a premium waterfront estate with the intention of tearing it down.
(Amazed by the price tag of this future demo project, we looked into other luxury teardowns, which is apparently a booming business.)
Over a year later, Ellison never got around to razing this home. Instead, he’ll play the market and seek $145 million for his property in Seminole Beach Estate.
Can he manage to nearly double his money in the span of 16 months? He’s playing right into what ultrahigh net worth buyers are searching for.
“The new trend is ultracompounds for the billionaires,” says Palm Beach Gardens–based listing agent Jeff Lichtenstein, with Echo Fine Properties. “The Palm Beach and surrounding market down to Miami is seeing an influx of financial money especially out of the Northeast cities.”
Ellison’s property is the third-largest oceanfront parcel in Palm Beach County. It’s located in a gated community with 24/7 security.
At 7.35 acres, the parcel is one of only a handful of properties in the state that can accommodate a private helipad. The property comes with 520 feet of ocean frontage.
Highlights of the seven-bedroom, 14-bath home include a private pool terrace, home theater, wine room, chef’s kitchen, tennis court, and VIP guest suite.
The spread includes a Mediterranean-style main house and other buildings, with a total of 30 bedrooms, Bloomberg notes. The seller was Netscape co-founder James Clark.
Ellison’s North Palm Beach listing is represented by Adam McPherson, Chris Leavitt, and Ashley McIntosh of The Leavitt/McIntosh Team at Douglas Elliman. Farhad Farman of Compass is a marketing adviser on the listing.