I
n a jaw-dropping real estate deal, billionaire William P. Lauder has reportedly sold two vacant waterfront parcels in Palm Beach for a staggering $200 million. The properties, totaling just under three acres with 360 feet of direct beach frontage, were purchased by Lauder's family company, Estée Lauder Companies (EL), over the past few years. Lauder acquired the first parcel for nearly $25.4 million in 2020 and the second for an undisclosed sum the following year.

    With a combined value that could shatter records, this sale eclipses even the most exclusive Palm Beach transactions. If confirmed, it would outpace Michael Cantanucci's 2023 purchase of a 1.6-acre property for over $170 million. The city's real estate market has seen an unprecedented surge in ultra-expensive deals, with 36 transactions exceeding $10 million in the second quarter of 2024 alone.

    Experts attribute this boom to President Donald Trump's presence at Mar-a-Lago, which has catapulted Palm Beach onto the global stage. "We've seen a huge bump after the election," notes Margit Brandt of Premier Estate Properties. "International buyers are now eyeing Palm Beach, expanding our buyer pool significantly." As the city solidifies its status as a luxury hub, it's clear that Palm Beach is no longer just an enclave for the wealthy – it's a global destination.