Selling of Oceanfront Plot by William Lauder in Palm Beach, FL
William Lauder, heir to the Estée Lauder fortune, is set to make $178 million by selling an oceanfront plot in Palm Beach, FL. He had purchased two properties totaling 2.8 acres in 2020 and 2021, razed the existing homes, and listed the vacant lot for $177.8 million in 2023. The sale is expected to set a new record for Palm Beach real estate.
Key Points
- William Lauder purchased 2.8 acres of oceanfront land in Palm Beach in 2020 and 2021
- Listed the vacant lot for $177.8 million in 2023
- Sale expected to be a record-breaking sum for Palm Beach
Pros
- Potential $178 million profit for William Lauder
- Expected to set a new record for Palm Beach real estate sales
Cons
- Razing of existing homes on the properties