While there are signs of a broader real estate market cool down, South Florida remains hot. Inflation, and the feds attempts to reel it in, have certainly impacted the market as a whole, but it hasn't stopped some of the biggest fish from making a splash. Just two months ago tech billionaire Larry Ellison made a record breaking purchase just south of Palm Beach in Manalapan for a reported $173 million, the largest real estate transaction in Florida history.(more on that transaction here)
It was in April of '21 when Ellison made his first splash in the area with the purchase of an oceanfront estate in Seminole Landing which cost him $80 million. It seems the former Oracle CEO wants to concentrate his focus on the Manalapan property as he just listed his Seminole Landing home for $145 million. The newly listed North Palm Beach property sits on about 8.5 acres, including a privately-owned beach and dune, with over 520 feet of ocean frontage, according to the listing agents. It is one of the largest oceanfront plots in Palm Beach County.
Visit the Wall Street Journal article here.
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