>
An unoccupied oceanfront mansion that quietly sold for $110 million last year is being torn down and replaced with new premises.
Built in 2016 at 1071 N. Ocean Blvd, Palm Beach, the mansion is owned by a company associated with cosmetics billionaire William P. Lauder.
It was blasted by the locals around the time of construction because it was too big – although the next property on the lot may be even bigger.
Lauder, 62, who is reportedly worth $3.2 billion, is executive chairman of The Estée Lauder Company.
He owns an empty lot next door and would like to combine both lots before building his dream home, just six miles from former President Trump’s Mar-a-Lago.
Details of the sale and impending demolition were discovered by the Palm Beach Daily News.
A 36,000-square-foot mansion in Palm Beach, Florida, which sold for $110 million last year, must be demolished to make way for a new home
Built in 2016 and located just six miles away from Trump’s Mar-a-Lago, the house is owned by cosmetics billionaire William P. Lauder, who was number 317 of the wealthiest Americans on the just-released Forbes 400 list.
The house was originally purchased for $40.42 million by Philadelphia businessman Vahan Gureghian and his wife, Danielle, a lawyer, but they never moved in.
This week, demolition workers moved to the lush front lawn site that had been torn open last Monday, while trees and shrubs were removed on Tuesday.
The building itself may not be razed to the ground until a final demolition permit has been issued by the City of Palm Beach.
Approval has already been given for the demolition of the lavishly decorated interior of the house, with the owner agreeing to “donate interior finishes instead of throwing them away.”
Clearance has already been given for the demolition of the lavishly decorated interior of the house, with the owner agreeing to ‘donate interior finishes rather than throw them away’
The house, built in 2016, which is just six miles away from Trump’s Mar-a-Lago, will be demolished to make way for a new home
The French-style home was first put up for sale in March 2015 for $84.5 million while it was still under construction.
The seven bedroom house sits on a 2 acre double lot with 242 feet to the beach
The mansion as a whole has 36,000 square feet of living space, inside and out.
About two years after it was listed, the mansion was the most expensive property for sale in Palm Beach County.
The H-shaped layout of the house allowed for ocean views from many of the reception areas and bedrooms.
In addition to several bedrooms in the main body of the house, there are also a few two-bedroom guest apartments complete with ocean views.
The red tiled roof of the house was changed to a gray shingle style, in keeping with the castle-like architecture
There’s even room for a two-lane bowling alley in the basement – though it will soon be destroyed by the wrecking ball.
The house also has double oceanfront balconies, massage room, home theater, pub, library, oceanfront kitchen, staff quarters, and eight-car garage.
The mansion was often criticized by neighborhood activists who were dissatisfied with its size, deeming it “too big for its lot” and “out of proportion to other houses in the area.”
It’s unclear whether Lauder plans to build an even larger property on his twin lot, or something more subtle.
The red tiled roof of the house was changed to a gray shingle style, to bring it more in line with the castle-like architecture.
Lauder, who was ranked #317 among the wealthiest Americans on the just-released Forbes 400 list, already has planning permission to build on the adjacent lot, and plans are set to be approved in 2021, though construction work hasn’t started yet.
He bought that lot, at 1063 N Ocean Blvd, for $25.4 million in April 2020, after which he demolished the existing house that had stood there since the early 1960s.
Plans for any new to settle on both lots have not yet been submitted.