B
illionaire William P. Lauder, scion of the Estée Lauder dynasty, has reportedly pulled off a Palm Beach real estate coup, selling two vacant waterfront parcels for a staggering $200 million. According to sources close to the deal, Lauder's transaction could shatter local records, eclipsing even the most luxurious sales in recent memory.

    Lauder first acquired one of the properties in 2020 for nearly $25.4 million, followed by the second purchase the following year for an undisclosed sum. The combined parcels span slightly less than three acres, boasting a coveted 360 feet of direct beach frontage. After demolishing existing homes on both sites, Lauder put them on the market in 2023.

    Palm Beach's property prices have skyrocketed over the past five years, defying the global real estate slowdown that followed the post-Covid boom. The city has seen a surge in ultra-expensive deals, with 36 residential transactions exceeding $10 million in the second quarter of 2024 alone – a marked increase from just 19 comparable sales in the same period last year.

    Some attribute this property frenzy to President Donald Trump's presence in Palm Beach, where his Mar-a-Lago resort is located. "We've seen a huge bump after the election," notes Margit Brandt of Premier Estate Properties. "International buyers now have their sights set on Palm Beach, expanding our buyer pool majorly." As a result, Palm Beach has become an international hotspot, with Lauder's sale serving as a testament to its allure and exclusivity.