A trophy oceanfront Palm Beach property on Billionaire’s Row is now back on the market, looking to capitalize on Florida’s red-hot luxury real estate boom.
First listed back in 2022 for $150,000,000, the ocean-to-Intracoastal lot at 1980 S Ocean Boulevard has been relisted for an even more ambitious $200 million — but this time, it might just get it.
Much like the three neighboring Miami Beach properties on Palm Island that returned to market for $150 million in late January, the high-profile listing lands at a time when Florida’s luxury real estate market is soaring, with potential record-breaking properties popping up across the Sunshine State.
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Florida’s sizzling hot luxury real estate market
The $200 million listing — repped by Shelly Newman with the Corcoran Group — is being brought to market fresh off the heels of other marquee, potentially record-breaking listings.
We’re just a few weeks into 2025, and we’ve already seen a $285 million spec mansion in nearby Manalapan (sans the coveted Palm Beach zip code) claim the title of most expensive home in the U.S., with another $150 million listing following the week after.
1980 S Ocean Boulevard is now Florida’s 3rd most expensive property, surpassed only by the $285M Manalapan property and the 9-acre Gordon Pointe estate in Naples, Florida, which has recently seen its price slashed to $210 million (down from $295M).
Demand for Palm Beach properties is soaring amid limited supply
But it’s the Palm Beach area in particular that’s driving the highest demand for trophy properties — with little inventory to go around.
The newly listed lot at 1980 S Ocean Boulevard is the only available vacant parcel stretching from Intracoastal to the ocean with high elevation, offering a rare opportunity to split it and build two separate 9-figure mansions on Florida’s prohibitively expensive Billionaire’s Row.
And rumor has it that billionaire William Lauder just struck a deal to sell two other oceanfront lots in Palm Beach for close to his original $200 million asking price.
One of only 20 lots with both ocean and Intracoastal waterfronts
There are only approximately 20 properties in all of Palm Beach that have both oceanfront and Intracoastal waterfront, 1980 South Ocean Boulevard being one of them, the brokerage tells us.
The 1.91-acre lot can accommodate a two-story house with a lower level, thanks to its relatively high elevation. The land has been subdivided to allow for two residences or one family compound to be built. In fact, plans for such a compound are included in the sale.
Plans have already been drawn for a stately compound
ARCOM-ready plans have already been drawn up, with architectural firm Fairfax & Sammons envisioning a sophisticated 20,000+ square-foot Italianate mansion for the location.
Future buyers would still need to have plans submitted to ARCOM for final approval, however, the renderings have been created with current ARCOM requirements in mind.
With over 20,000 square feet of lavish living space
The proposed mansion would have a central entrance hall leading to a grand staircase and a 22-by-60-foot oceanfront great room with 14-foot ceilings, the project’s architect, Richard Sammons, told the Palm Beach Daily News.
It would also feature an expansive lakeside family wing, an 8-car garage on the lower level, and ample housing for staff.
And a stylish guest house
The current renderings for the property also show an equally stylish guest house and pool house, providing ample space to accommodate guests for extended stays.
Previous plans proposed two mansions be built on the lot
While previous attempts at selling the property emphasized the option of building two uber expensive mansions for the 2-acre lot for a huge profit, the current redesign and focus on a striking compound reflects the shift Florida has been seeing lately, with billionaires snapping up trophy properties across Florida’s most desirable areas — with some transforming them into megacompounds.
Just minutes away from 1980 S Ocean Blvd, billionaire Ken Griffin is building himself a gigantic 50,000-square-foot Palm Beach estate that will be worth about $1 billion. Further South, Jeff Bezos is buying up a sizable chunk of Indian Creek Island (Billionaire’s Bunker), to build his own megacompound. So despite the newly re-listed property’s sky-high asking price, chances are it won’t have any troubles finding a buyer.
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