but palm beach, a millionaire retreat in southeastern Florida, at 1071 North Ocean Blvd. stands out as a monument to excess. Over 35,000 square feet, the mansion is feature 16 bathrooms, gym, barber shop, theater and library.Last year, this property was reportedly It was sold for an astounding $110 million to an entity related to William Lauder, the billionaire heiress to Estée Lauder’s cosmetics wealth. But the palatial mansion is clearly not up to his family’s standards.On Wednesday, the town approved a plan to demolish his just six-year-old home to the ground.
This decision upset some locals. “I have a really weird feeling in my stomach about it. I think it’s a complete waste,” one prominent resident told the Daily Beast. “I mean, normal people don’t do that. It’s kind of gross.
Another resident, third-generation Palm Beach KT Catlin, described himself as “in favor of development and redevelopment.” But even in her mind, she “questions the tendency to constantly tear down to build bigger,” she said.
Known to some locals as ‘The Castle,’ the estate was completed in 2016 and angered community members from the start. Of particular concern are the Palm Beach Daily News As previously mentioned, it was the sheer size and the way it ate up a good chunk of two acres of land.
In 2011, the original owners, lawyer-turned-charter-school consultants Daniel and Vahan Gregian, narrowly secured approval to build their “dream home.” SaidThey never actually lived in it, instead putting the property up for sale for over $80 million 2015, before construction was completed. Greggian sold to another entity in 2019 for $40.9 million.
Now that Loder appears to have taken over ownership, there is unsettling speculation within the community that he will build an even larger colossus on the site. also owns adjoining vacant lot.
Midtown Palm Beach resident Victoria “Cookie” Donaldson said she was neutral about the demolition and said she was divided on the project.
When the plans were first announced, detractors reacted with “shock” at the nine-figure luxury of demolition.
Palm Beach officials told the Daily Beast that the new owners have not yet submitted proposals for what they would like to build after the demolition. One of Lauder’s attorneys declined to comment.
Even before the recent controversy, tensions in Palm Beach had been simmering for months: between wealthy snowbirds and year-round locals, and property owners (whose identities are corporate entities). (often hidden in the back) and among the more modest homeowners.
Newly constructed homes are built taller than many existing properties due to federal regulations. As a result, during severe storms, water from modern mansions runs directly onto neighbors’ properties, multiple residents said.
Construction trucks have repeatedly damaged cars and buildings, and crews have been known to work earlier or later than regulations allow and sneak in on weekends, Katrin said.
In addition, there are also concerns that Loader’s project could exacerbate traffic problems, which could already be miles apart. “There are only two roads for him,” said Donaldson. During President Donald Trump’s presidency, when his visit to his Palm Beach resort, Mar-a-Lago, was blocking traffic flow, she had three homes under construction near her. “I couldn’t get out of her driveway for four years,” she said.
Compounding the frustration is that the soon-to-be-demolished house has been at least partially under construction for years. “They keep renovating and renovating it,” he says Catlin. Now, with the rebuilding, some people are upset that “it will take another X years to see and deal with this.”
Donaldson remembers growing up in Palm Beach decades ago. And nothing was demolished to make way for another gigantic, gigantic house. “
Perhaps the most obvious example of that change is underway six miles south where billionaire Ken Griffin is building. his own Versailles: Multi-lot property spanning 1,400 feet of shoreline. The project has also drawn the ire of community members who are billionaires.
Despite the recent flare-up, several residents said the Lauder family enjoys a positive reputation in the community. According to his LinkedIn page, New York City-based William Lauder is the chairman of his family’s cosmetics business. forbes It also reportedly owns properties in Aspen and Westchester, New York. The outlet pegs his net worth at $3.1 billion.
Earlier this year, Lauder announced the news. reportedly Reconciled with a former “mistress” who had sued him In 2018, he claimed he had canceled the contract to pay for her $7 million Los Angeles mansion. According to 2010 forbes Talkthe pair had a child together in 2007, but Lauder was married and was CEO of Estee Lauder. But he struck out a private deal that he agreed to “hide his father’s identity.” (After being sued in 2018, Lauder reportedly He filed his own lawsuit, declaring that the woman had breached the contract “several times.”
A tabloid conspiracy is clearly not a factor in the Palm Beach controversy. also said it was about this one property. “This is a sign of a bigger problem,” the person said, calling out adjectives like “flashy” and “gauche” that might apply to a sequined maxi dress. I think we are losing it.”