Welcome to another edition of luxury real estate watch, where we fantasize about living like magnates from the comfort of our office cubicle. This week, billionaire tech entrepreneur Larry Ellison is looking to offload his oceanfront Palm Beach, Florida home. Taking a quick flip to the extreme, he purchased the 6.5-acre property in April 2021 for USD$80 million and has now listed it for a whopping USD$145 million.
The estate is located in the elite enclave of Seminole Landing, a gated community of 65 homes where other billionaires, including Robert Smith, David Tepper and Steve Wynn, own or previously owned property. The ultra-exclusive neighbourhood has its own private beach, with many houses boasting incredible ocean views. Flexing on the rest of the block, Ellison’s crib is the largest oceanfront property on the market in all of South Florida and the third largest oceanfront property in palm beach County.
According to The Real Deal, The Oracle founder originally planned to demolish the home last year but decided against it. The 15,500 square foot home reportedly has seven bedrooms, a theatre, a wine room, and a nearby tennis court. As is the norm in this tax bracket, there’s also helicopter accessibility to transport owners to international or private airports.
The highly private home features 662 linear feet of ocean frontage, direct beach access, and plenty of land to renovate original structures or add new components to complete the dream compound.
“As one of the largest oceanfront lots, the property holds a certain cache that stands above and beyond the spectacular estates in Palm Beach, which are already a benchmark for the highest calibre of properties in the world,” Farhad Farman of Compass told Forbes, who is operating as a strategic marketing advisor on the listing.
If Ellison’s Seminole Landing home sells for the USD$145 million price tag, it will be one of the highest transactions of the year. As one would assume, selling a property of this nature requires a unique approach.
“As the buyer pool for this level of property is exclusive, the marketing and promotion of this property will be extremely fine-tuned and personalized,” says Farman. “This will include international promotional strategies, direct outreach to specific spheres of influence and networking with the appropriate estate representatives from around the world.”
Ellison, the eighth richest person on the planet according to Forbes Billionaires, made waves earlier in the year when he bought Netscape co-founder Jim Clark’s USD$173 million Palm Beach mansion in what was the most expensive sale of the year to date. In addition to his already impressive portfolio, Ellison owns homes in Newport, Rhode Island, Lake Tahoe, Lanai, Carbon Beach, and San Francisco.