Where Are the Super Rich Buying in Palm Beach County?
The super rich are buying oceanfront land in Palm Beach and Manalapan. North Palm Beach draws them too. Many then tear the house down. The Wall Street Journal reported the trend on Oct. 21. Larry Ellison bought eight staff homes in west Boynton Beach. Mark Wahlberg bought west of Delray Beach.
Where are the super rich buying in Palm Beach County?
They are buying on the ocean in three towns. Palm Beach, Manalapan and North Palm Beach lead the list. West Boynton Beach shows up for staff homes. Gated estates west of Delray draw buyers too.
Why do billionaires buy $100 million mansions to tear them down?
They want the land, not the house. Oceanfront land can't be replaced. Appraiser Jonathan Miller calls the house "packaging." Agents now market empty lots with AI renderings.
What happened in Palm Beach?
William P. Lauder paid $155M for Rush Limbaugh's oceanfront estate in March 2023. It set a Palm Beach record at the time. The house was about 24,000 square feet. He tore it down by July 2023.
Lauder razed two more oceanfront houses on about 3 acres. One was six years old. He sold the vacant land in 2025 for close to $200M.
Next up may be Murray Goodman's oceanfront compound. It sits on about 2 acres with 250 feet of frontage. It is listed at $185M. Local agents expect the buyer to tear it down.
What happened in Manalapan?
WeatherTech's David MacNeil bought two estates side by side. He paid $38.5M in 2024. He paid $55.5M for the second in 2025. He tore down both houses. That created a 3.5-acre oceanfront lot. Reports say the lot sold for $105M in April 2026.
In June 2026, MacNeil and Larry Ellison split a 4-acre parcel. They paid a combined $67M. The land was once planned for a $285M megamansion.
MacNeil also paid $36M for a house next to his own. He razed it for a gym and green space.
What is for sale in North Palm Beach?
Ellison relisted his seven-bedroom Tuscan-style estate at $165M. K2 Realty pitches it as a redevelopment opportunity. In plain terms, the next owner may tear it down.
Why did Larry Ellison buy eight homes in west Boynton Beach?
He bought them to house his household staff. That includes tutors for his children. The WSJ reported the deal on Sept. 29.
The eight homes sit in Palm Meadows Estates. It is a gated community of about 290 homes. The total came to almost $10M. All eight closed in May and June 2023. The buyer was an LLC with a California address.
One three-bedroom home sold for $1.2M. Its owners had paid $567K in 2019. Some neighbors objected. The HOA then added rules to stop one buyer from collecting many homes.
Did Mark Wahlberg buy a home near Delray Beach?
Yes. Mark Wahlberg bought Palazzo di Lago, west of Delray Beach. The deal closed Oct. 14, 2025.
The home sits in Stone Creek Ranch, a gated community nicknamed "billionaires row." It is in unincorporated Palm Beach County. It has a Delray mailing address. The MLS lists the price at $37M, furnished. The recorded deed shows $32.64M.
The house has about 17,800 square feet of living space. It sits on 2.7 acres. Stone Creek Ranch has 37 homes on 187 acres. CNBC reports the home sold four times in five years. It traded for $17M in January 2020.
What does this mean for Delray Beach and Boca Raton?
Delray Beach and Boca Raton are not the retirement towns they once were. Today they are strong, desirable markets. Demand here is high. Record sales prove it.
In May 2026, a Royal Palm Yacht & Country Club home sold for $75M. That set a new record for Boca Raton. It sold after one day on the market. In March 2026, actor Kevin James paid $17.2M for a home in Royal Palm.
Delray Beach set a record in July 2025. MediaAlpha co-founder Eugene Nonko paid $51.1M for an oceanfront estate. Three months later, an oceanfront spec home sold for $59M. Developer Mark Pulte had paid $11.1M for the site in 2020.
Big money nearby pushes demand into the towns around it. The Ellison deal shows it. A billionaire's staff needs homes in modest, gated, west-county neighborhoods. Delray and Boca have many of them.
The "land over house" idea shows up here too. You see it on oceanfront and Intracoastal lots in Delray, Gulf Stream and Boca. Buyers should check what the lot is worth, not just the house.
New to buying here? Follow my step-by-step Buyer Roadmap.
What jobs do these buyers create?
Each estate needs people to run it. Think housekeepers, caretakers and tutors. Each teardown needs crews to demolish and rebuild. Staff also need places to live. That adds demand for housing near the estates.
FAQ
Who paid $155M for Rush Limbaugh's Palm Beach estate?
William P. Lauder paid $155M in March 2023. He tore the house down by July 2023.
How much did Larry Ellison spend on homes in Palm Meadows Estates?
He spent almost $10M on eight homes in west Boynton Beach. They house his staff.
Why tear down a $100M house?
Oceanfront land can't be replaced. Buyers want the lot. Then they build their own home.
Where did Mark Wahlberg buy in Palm Beach County?
He bought Palazzo di Lago in Stone Creek Ranch, west of Delray Beach. It closed Oct. 14, 2025.
Does this affect home prices in Delray Beach and Boca Raton?
Yes, it adds demand. Boca Raton set a $75M record in May 2026. Delray Beach saw a $59M sale in October 2025.
Talk to a local agent
Want to know what your lot or home is worth in this market? Call or text me at 954-817-9463. I'm Josh Grant, an eXp Realty agent in Delray Beach and Boca Raton.
Sources
WSJ, Katherine Clarke, Oct. 21, 2026. Free rewrite: NY Post, Oct. 22
Capital Wealth, Oct. 23, 2026: Nine-figure Palm Beach teardowns
WSJ, Katherine Clarke and Emily Glazer, Sept. 29, 2026. Free rewrite: NY Post, Sept. 29
Palm Beach Post, Dec. 29, 2025: Wahlberg buys in Stone Creek Ranch
The Real Deal, Oct. 16, 2025: Wahlberg buys Stone Creek Ranch mansion
CNBC, Nov. 17, 2025: Mark Wahlberg mansion in Florida
The Real Deal, May 20, 2026: Boca Raton record $75M sale in Royal Palm
Realtor.com, May 20, 2026: $75M home becomes Boca Raton's priciest
The Real Deal, Mar. 17, 2026: Kevin James buys Boca Raton mansion
The Real Deal, July 24, 2025: Record $51M Delray Beach estate sale
The Real Deal, Oct. 17, 2025: Pulte sells Delray Beach spec mansion for $59M
Where Are the Super Rich Buying in Palm Beach County?
The super rich are buying oceanfront land in Palm Beach and Manalapan. North Palm Beach draws them too. Many then tear the house down. The Wall Street Journal reported the trend on Oct. 21. Larry Ellison bought eight staff homes in west Boynton Beach. Mark Wahlberg bought west of Delray Beach.
Where are the super rich buying in Palm Beach County?
They are buying on the ocean in three towns. Palm Beach, Manalapan and North Palm Beach lead the list. West Boynton Beach shows up for staff homes. Gated estates west of Delray draw buyers too.
Why do billionaires buy $100 million mansions to tear them down?
They want the land, not the house. Oceanfront land can't be replaced. Appraiser Jonathan Miller calls the house "packaging." Agents now market empty lots with AI renderings.
What happened in Palm Beach?
William P. Lauder paid $155M for Rush Limbaugh's oceanfront estate in March 2023. It set a Palm Beach record at the time. The house was about 24,000 square feet. He tore it down by July 2023.
Lauder razed two more oceanfront houses on about 3 acres. One was six years old. He sold the vacant land in 2025 for close to $200M.
Next up may be Murray Goodman's oceanfront compound. It sits on about 2 acres with 250 feet of frontage. It is listed at $185M. Local agents expect the buyer to tear it down.
What happened in Manalapan?
WeatherTech's David MacNeil bought two estates side by side. He paid $38.5M in 2024. He paid $55.5M for the second in 2025. He tore down both houses. That created a 3.5-acre oceanfront lot. Reports say the lot sold for $105M in April 2026.
In June 2026, MacNeil and Larry Ellison split a 4-acre parcel. They paid a combined $67M. The land was once planned for a $285M megamansion.
MacNeil also paid $36M for a house next to his own. He razed it for a gym and green space.
What is for sale in North Palm Beach?
Ellison relisted his seven-bedroom Tuscan-style estate at $165M. K2 Realty pitches it as a redevelopment opportunity. In plain terms, the next owner may tear it down.
Why did Larry Ellison buy eight homes in west Boynton Beach?
He bought them to house his household staff. That includes tutors for his children. The WSJ reported the deal on Sept. 29.
The eight homes sit in Palm Meadows Estates. It is a gated community of about 290 homes. The total came to almost $10M. All eight closed in May and June 2023. The buyer was an LLC with a California address.
One three-bedroom home sold for $1.2M. Its owners had paid $567K in 2019. Some neighbors objected. The HOA then added rules to stop one buyer from collecting many homes.
Did Mark Wahlberg buy a home near Delray Beach?
Yes. Mark Wahlberg bought Palazzo di Lago, west of Delray Beach. The deal closed Oct. 14, 2025.
The home sits in Stone Creek Ranch, a gated community nicknamed "billionaires row." It is in unincorporated Palm Beach County. It has a Delray mailing address. The MLS lists the price at $37M, furnished. The recorded deed shows $32.64M.
The house has about 17,800 square feet of living space. It sits on 2.7 acres. Stone Creek Ranch has 37 homes on 187 acres. CNBC reports the home sold four times in five years. It traded for $17M in January 2020.
What does this mean for Delray Beach and Boca Raton?
Delray Beach and Boca Raton are not the retirement towns they once were. Today they are strong, desirable markets. Demand here is high. Record sales prove it.
In May 2026, a Royal Palm Yacht & Country Club home sold for $75M. That set a new record for Boca Raton. It sold after one day on the market. In March 2026, actor Kevin James paid $17.2M for a home in Royal Palm.
Delray Beach set a record in July 2025. MediaAlpha co-founder Eugene Nonko paid $51.1M for an oceanfront estate. Three months later, an oceanfront spec home sold for $59M. Developer Mark Pulte had paid $11.1M for the site in 2020.
Big money nearby pushes demand into the towns around it. The Ellison deal shows it. A billionaire's staff needs homes in modest, gated, west-county neighborhoods. Delray and Boca have many of them.
The "land over house" idea shows up here too. You see it on oceanfront and Intracoastal lots in Delray, Gulf Stream and Boca. Buyers should check what the lot is worth, not just the house.
New to buying here? Follow my step-by-step Buyer Roadmap.
What jobs do these buyers create?
Each estate needs people to run it. Think housekeepers, caretakers and tutors. Each teardown needs crews to demolish and rebuild. Staff also need places to live. That adds demand for housing near the estates.
FAQ
Who paid $155M for Rush Limbaugh's Palm Beach estate?
William P. Lauder paid $155M in March 2023. He tore the house down by July 2023.
How much did Larry Ellison spend on homes in Palm Meadows Estates?
He spent almost $10M on eight homes in west Boynton Beach. They house his staff.
Why tear down a $100M house?
Oceanfront land can't be replaced. Buyers want the lot. Then they build their own home.
Where did Mark Wahlberg buy in Palm Beach County?
He bought Palazzo di Lago in Stone Creek Ranch, west of Delray Beach. It closed Oct. 14, 2025.
Does this affect home prices in Delray Beach and Boca Raton?
Yes, it adds demand. Boca Raton set a $75M record in May 2026. Delray Beach saw a $59M sale in October 2025.
Talk to a local agent
Want to know what your lot or home is worth in this market? Call or text me at 954-817-9463. I'm Josh Grant, an eXp Realty agent in Delray Beach and Boca Raton.
Sources
WSJ, Katherine Clarke, Oct. 21, 2026. Free rewrite: NY Post, Oct. 22
Capital Wealth, Oct. 23, 2026: Nine-figure Palm Beach teardowns
WSJ, Katherine Clarke and Emily Glazer, Sept. 29, 2026. Free rewrite: NY Post, Sept. 29
Palm Beach Post, Dec. 29, 2025: Wahlberg buys in Stone Creek Ranch
The Real Deal, Oct. 16, 2025: Wahlberg buys Stone Creek Ranch mansion
CNBC, Nov. 17, 2025: Mark Wahlberg mansion in Florida
The Real Deal, May 20, 2026: Boca Raton record $75M sale in Royal Palm
Realtor.com, May 20, 2026: $75M home becomes Boca Raton's priciest
The Real Deal, Mar. 17, 2026: Kevin James buys Boca Raton mansion
The Real Deal, July 24, 2025: Record $51M Delray Beach estate sale
The Real Deal, Oct. 17, 2025: Pulte sells Delray Beach spec mansion for $59M
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Josh Grant
Office: eXp Realty in Palm Beach Florida and Greater Fort Lauderdale
Phone: 954-817-9463
Email Me: justjoshgrant@gmail.com
Designated Managing Broker: Ann Shahin
MLS Disclaimer:
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2026 BeachesMLS, Inc.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by BeachesMLS.
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Property search and live listing data are provided on the eXp Realty BoldTrail IDX site (justjoshgrant.exprealty.com). That platform refreshes MLS data automatically and displays the current Data Last Updated timestamp. This marketing site does not use a static feed date.
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See MLS Disclaimer above for BeachesMLS IDX attribution and use restrictions. Live listing refresh timestamps appear on justjoshgrant.exprealty.com.
Josh Grant
Office: eXp Realty in Palm Beach Florida and Greater Fort Lauderdale
Phone: 954-817-9463
Email Me: justjoshgrant@gmail.com
Designated Managing Broker: Ann Shahin
MLS Disclaimer:
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2026 BeachesMLS, Inc.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by BeachesMLS.
Real estate listings held by brokerage firms other than eXp Realty may be marked with the IDX / BMLS logo. Detailed information about those properties includes the name of the listing firm (and an email or phone number provided by the listing firm) when required by the MLS.
Property search and live listing data are provided on the eXp Realty BoldTrail IDX site (justjoshgrant.exprealty.com). That platform refreshes MLS data automatically and displays the current Data Last Updated timestamp. This marketing site does not use a static feed date.
IDX Disclaimer:
See MLS Disclaimer above for BeachesMLS IDX attribution and use restrictions. Live listing refresh timestamps appear on justjoshgrant.exprealty.com.
