Larry Ellison, Oracle co-founder and billionaire, is offering his North Palm Beach estate for US$165 million. This represents a significant increase in value, as Ellison acquired the property in 2021 for US$80 million. Ellison had initially intended to demolish the existing building and construct a new one. However, these plans have been altered in favour of a sale.
The property spans 8.4 acres of land and boasts an Atlantic coastline of more than 560 feet. It is the third-largest waterfront estate in Palm Beach County. The marketing is being handled by Paul Kaneb and James Kenny of K2 Realty, a brokerage firm that holds a leading position in oceanfront property sales in North Palm Beach.
Property Details
The estate is located within the gated community of Seminole Landing and is characterised by an unusually extensive coastal position in North Palm Beach. The existing villa comprises over 16,000 square feet of living space, spread across seven bedrooms and eight bathrooms. However, much of the property's appeal lies in its expansive grounds, which ensure a significant distance from neighbouring properties, as well as direct beach access.
- —Price: US$165 Million
- —Location: North Palm Beach, Florida
- —Living Area: 16,284 Square Feet
- —Plot Size: 8.4 Acres
- —Coastline: 562 Feet of Direct Atlantic Ocean Frontage
In contrast to smaller waterfront plots where new builds are often constrained by existing plot dimensions, the expansive areas here offer ample space for redesigning the estate. This includes the possibility of integrating additional residential, leisure, and wellness facilities, subject to local building regulations.
Ellison's Strategic Property Moves
Ellison's decision to divest the North Palm Beach estate is part of a series of significant real estate activities he has undertaken in South Florida in recent years. In June of this year, he reportedly paid approximately US$35 million for a plot of land between the ocean and the Intracoastal Waterway adjacent to his US$173 million Manalapan estate. This expanded the land around his primary residence in the region.
Already in 2023, Ellison acquired eight homes within a single gated community in Boynton Beach for nearly US$10 million. Reports suggest these acquisitions served to house members of his household, including tutors for his children, within commuting distance of Manalapan. With the continued consolidation of his property portfolio around Manalapan, the sale of the North Palm Beach estate would contribute to concentrating his properties along one stretch of coast and offer a potential buyer the opportunity to acquire this unique estate.
