Palm Beach, long known for its record-breaking sales and ultra-wealthy residents, is once again making headlines with a high-stakes property acquisition that has the real estate world buzzing.
According to The Wall Street Journal, over the past year, a discreet yet deep-pocketed buyer has quietly pieced together nearly 3 acres of prime land along prestigious North Ocean Boulevard—shelling out close to $250 million in the process. And no one seems to know who they are.
A Strategic Assemblage Begins
The story begins with two coveted oceanfront parcels previously owned by billionaire cosmetics heir William Lauder. Initially earmarked for personal use, Lauder listed the properties in 2023 for a combined $200 million. Together, the lots offer 2.8 acres and 360 feet of direct beachfront—an extremely rare commodity in Palm Beach.
Fast forward to February 2025: The parcels were sold in an off-market deal that, while not officially recorded, is believed to have closed near the full asking price.
The Plot Thickens—Across the Street
In June, that same mysterious buyer expanded their footprint by purchasing a Mediterranean-style home directly across the street for $18 million. Previously bought in 2018 for just $4.15 million by attorney Thomas Harvey and media executive Cathleen Black, the home was never listed. Instead, the buyer came in with an unsolicited offer too good to refuse.
Harvey, when asked, said he had no idea who the buyer really is.
Only days later, the buyer’s LLC struck again—this time acquiring the neighboring property for $30 million. That home, a 5,800-square-foot residence on a half-acre lot, had last traded hands for just $5.25 million in 2017. Again, the price far exceeded local market comps.
While the buyer remains anonymous, some clues have emerged. The inland purchases were made through Delaware-based LLCs linked to Greyson Blue, a Seattle attorney affiliated with K&L Gates—a law firm with longstanding ties to the Gates family. Blue previously worked for the Gates Foundation and is connected to several entities tied to the Gates name.
Still, a source close to the Foundation has reportedly denied that Bill Gates is the buyer behind this bold real estate move.
That hasn’t stopped speculation. Other potential names tossed around by local agents include Microsoft veterans and billionaires Steve Ballmer and Charles Simonyi, both of whom have kept low profiles in recent years. Neither has commented on the situation.
Even Bon Jovi Isn’t Selling—Yet
The only notable holdout on this stretch of North Ocean Boulevard? None other than rock legend Jon Bon Jovi. The singer purchased his neighboring estate in 2020 for $43 million. Despite reportedly being approached with an offer, Bon Jovi appears uninterested in selling at the moment.
Local insiders say that with Bon Jovi’s estate still in place, the mystery buyer hasn’t completed their vision—yet.
The buyer’s strategy appears to be more than a mere luxury purchase. This assemblage hints at the creation of one of the most significant private compounds in South Florida, possibly rivaling the expansive Palm Beach estates of hedge fund titan Ken Griffin and Amazon founder Jeff Bezos.
Griffin has famously spent over $400 million since 2012 compiling an ultra-luxury compound in Palm Beach. Bezos, meanwhile, has dropped over $230 million acquiring several estates in Miami’s elite Indian Creek Village. Now, it seems a new contender is quietly joining their ranks.
The deals also underscore the strength and momentum of South Florida’s luxury real estate market, which has seen record-breaking activity since 2020. Palm Beach, in particular, has become a magnet for billionaires seeking waterfront privacy, lifestyle, and long-term investment potential.
A Market Defying Gravity
Even amid global uncertainty, Palm Beach continues to attract buyers willing to pay well above market value for the right location and vision. This $250 million acquisition spree is the latest reminder that for the wealthiest individuals, real estate isn’t just about space—it’s about legacy, positioning, and long-term opportunity.
Interested in Palm Beach's ultra-luxury market?
As properties like these change hands quietly and quickly, it’s more important than ever to have a well-connected advisor on your side. Whether you're looking to buy, sell, or simply stay informed, I’m here to help you navigate the most prestigious corners of South Florida real estate. Let’s connect.
Source: www.wsj.com
