A prime 2-acre parcel of land on Palm Beach’s exclusive “Billionaire’s Row” has been listed for an eye-watering $200 million. The property, located at 1980 South Ocean Boulevard, is one of the last undeveloped ocean-to-lake lots in the area, providing a rare opportunity for buyers to construct a custom-built estate from the ground up.
A rare opportunity for new construction
Unlike many other properties in the ultra-luxurious neighborhood, this vacant lot requires no demolition or remodeling, allowing a buyer to start fresh with new construction. According to listing agent Shelly Newman of The Corcoran Group, this makes the property even more desirable.
“There is no demolition needed, there is no remodeling needed—this property allows for first-time, ground-up, new construction,” Newman stated.
As one of only about 20 properties in Palm Beach that span from the Atlantic Ocean to the Intracoastal Waterway, the listing is considered a “trophy property” in one of the nation’s most exclusive communities.
A rising price tag in a high-stakes market
The property has been in the same hands for decades, with attorney and real estate investor Nathan Royce Silverstein owning it since the 1960s. It was previously listed for $150 million in 2022 but was later pulled from the market before returning with a significantly higher asking price.
The lot is located near the estate of billionaire casino mogul Steve Wynn, further solidifying the area’s reputation as a hub for the world’s wealthiest individuals. Recent sales in the neighborhood, including Estee Lauder heir William Lauder’s $178 million transaction, highlight the soaring value of Palm Beach’s high-end real estate.
Renderings and future possibilities
For potential buyers looking to fast-track the design process, the listing includes architectural renderings by Richard Sammons of Fairfax & Sammons. The proposed Mediterranean-style compound features an infinity pool, an expansive underground multicar garage, and lush landscaping. The lot’s high elevation also makes it possible to build two separate homes on the property.
Palm Beach’s ultra-luxury real estate market has been setting records in recent years, fueled by high-profile buyers and a shift toward South Florida’s booming property market. While high-end sales in places like New York and California have reached the $200 million range, Palm Beach is quickly becoming a top destination for billionaires looking to invest in real estate.
With other major listings in the area, including a $285 million waterfront estate in Manalapan, Florida, the competition for the most expensive real estate deal in the U.S. continues to heat up. However, as recent price cuts on some high-end listings have shown, not every megadeal closes at full asking price.
For now, 1980 South Ocean Boulevard remains one of the most coveted vacant lots in Palm Beach, offering a blank canvas for an ultra-luxury dream home in one of the world’s most elite enclaves.
