A former CEO who develops real estate as a hobby has listed a South Florida mansion that hasn't been built yet for $285 million.
That asking price makes it the most expensive new home for sale in the US. (The country's priciest property for sale is a waterfront compound in Naples, across the state on Florida's west coast, on the market for $295 million.)
The $285 million property — located in Manalapan, Florida, a barrier island with a population of just over 400 that's about 11 miles south of Palm Beach — is next door to Oracle cofounder Larry Ellison's estate, which he paid $173 million for in 2022.
Stewart Satter, the seller of the planned estate, built his wealth by founding Consumer Testing Laboratories, a company that tested products for safety. He sold the firm in 2016.
Palm Beach County property records show an LLC managed by Satter purchased the property in March 2024 for $27.5 million. That same month, Satter demolished the existing property, according to the records.
The compound designed for the parcel is more than 50,000 square feet, with a separate beach house and a boat house, plus a bowling alley, a car museum, a gym and spa, a padel court, a golf simulator, and a shooting range.
Take a look at renderings that offer tantalizing glimpses into Satter's planned over-the-top mansion.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.