Florida
Palm Beach has traditionally served as a retreat for billionaires.

However, a new real estate trend is making the upscale neighborhood also a site of conflict.

Experts state that the struggle to obtain large, seaside properties has led them to increasingly purchase multiple connected houses on neighboring plots.

Their objective is to develop large-scale structures that provide exceptional confidentiality and personalized facilities.

Moreover, purchasers show no hesitation in demolishing current buildings on adjacent properties to realize their preferred construction plans.

“Most of these breakdowns stem from lifestyle choices,” said Samantha Curry, a leading Palm Beach real estate agent at Douglas Elliman, to the Daily Mail.

Consumers seek elevated ceiling heights, spacious floor plans, and luxury-like facilities — features that many older houses struggle to provide. Given their capabilities, constructing precisely what they desire is more efficient.

Homebuyers frequently merge multiple plots to form estates featuring guest homes, small buildings, and large green spaces—ideal for families spanning several generations.

In Palm Beach, home to individuals such as Donald Trump, Bill Gates, and Tiger Woods, physical presentation holds significant importance.

“If you own 125 feet of coastline, your home’s beauty is matched only by the neighboring attractive houses,” said real estate agent Ryan Serhant to the New York Times.

Additionally, as soon as you start purchasing adjacent parcels of property, “you gain influence over the scenery, sound levels, seclusion, and the surrounding area,” Serhant noted.

The problem is that the plots are not simply sitting idle, ready for construction. According to designer and ex-resident Steven Stolman, Palm Beach is “completely developed.”

“There’s nowhere left to go—and therefore the only method to obtain a new home is to demolish something,” Stolman remarked.

A hedge fund executive and Republican supporter named Ken Griffin has joined the movement.

Griffin, aged 56, ranks as the 31st wealthiest individual globally per Forbes.
has at least eight residences along Palm Beach’s Billionaires Row.

He cleared the properties soon after finalizing the transactions over ten years back and currently possesses approximately 27 adjacent acres,
The New York Times stated
.

Griffin’s vision for building his large compound would result in an estimated value of $1 billion, positioning it among the priciest properties globally.

He isn’t the only one pursuing these efforts, as wealthy individuals vie against each other to acquire land for building their private enclaves.

Curry expects the trend to persist as limited land availability intensifies the rush to purchase.

“It’s about the exclusiveness, the security, and the sense of calm. That’s why many individuals with extremely high net worth prefer Palm Beach, as there’s practically very little crime. It’s truly like an isolated haven within paradise,” she mentioned.

Curry pointed out that the limited availability of land makes property prices in the region generally a strong investment because of their rarity.

“Everyone admires things they cannot obtain,” she added.

Individuals may rationalize investing significant funds since it’s an island, representing a sound financial decision, implying that over time, its worth is expected to increase.

These wealthy individuals understand that when you consolidate land, particularly coastal property, it often increases in value over time due to the scarcity of sizable plots.

A Sotheby’s International Realty representative named Madison Collum stated to the Daily Mail that individuals relocating to Palm Beach frequently find themselves surprised by the limited amount of available space relative to the cost involved.

“In certain newer purchases, buyers were unwilling to settle for smaller spaces compared to what they’re used to elsewhere in the country or globally, leading them to buy neighboring plots and merge them,” Collum stated.

Some people value space, while others might prioritize privacy or safety. At this stage, the choice is driven by personal desires.

Such large plots of land, which are very uncommon, typically sell for higher prices, as has been evident over the past decade. It’s straightforward supply and demand, though there may be an added level of interest that many aren’t fully acknowledging.

Nevertheless, Collum mentioned that the urge to demolish the lots stems from a wish to build a house customized according to their way of life.

He further stated, ‘It’s a long-term commitment focused on pleasure and possessing precisely what they desire, instead of being concerned with monetary gains.’

Along North Ocean Boulevard, two coastal properties totaling 2.3 acres have recently been affected by the current trend.

The estates were previously held by William P. Lauder, chairman of Estée Lauder.
covered the initial batch with over $25 million in 2020
, the Times reported.

Afterwards, Lauder acquired the neighboring plot the next year prior to tearing down both properties.

Currently, the large houses that were previously located there have been substituted with vacant ground.

Following the period of vacancy, Lauder subsequently put the properties up for sale at $178 million two years back, with an unidentified purchaser acquiring both in February.

Additional theories emerged following a secret purchaser, believed to be the same individual, acquiring two additional properties along North Ocean Boulevard just behind Lauder’s holdings, according to the report.

Serhant, the representative handling the purchase of Lauder’s properties, also served as the agent for the buyer acquiring the two interior estates bought in June: 1066 N Ocean Boulevard and 1072 N Ocean Boulevard.

The initial one was owned by attorney Thomas E. Harvey and his wife, ex-Hearst executive Cathleen P. Black, who sold it for $18 million.

The second asset was disposed of shortly following the initial sale at a price of $30 million.

However, the negative perception of the region’s real estate is benefiting the Palm Beach market.

Although this trend is present across the country, Collum noted that due to the limited space available in Palm Beach, buying several neighboring lots and rebuilding has become far more frequent.

The property market in Palm Beach goes beyond mere geography—it’s about heritage.

“Here, buyers are engaging in long-term strategies, constructing properties that could remain within their families for many years,” Curry said.

The mix of limited territory, exceptional way of living, and worldwide attraction ensures that despite economic changes in other areas, Palm Beach continues to be among the toughest and most sought-after property markets globally.

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