Vacant lot near Donald Trump’s house lists for $318 million

There is nothing on the block but a cluster of trees, but this Florida property costs the same as 75 Toorak mansions. 

A two-acre block of land in Palm Beach, Florida has hit the market for $US200 million ($AU318 million). 

Positioned on a thin strip of coastline known locally as ‘Billionaire’s Row’, the block is one of just twenty Palm Beach properties with both ocean and lake waterfronts. 

The property is a five-minute drive away from US President Donald Trump’s Mar-a-Lago resort. 

Other wealthy residents who reportedly own mansions in the area include actor Sylvester Stallone, musician Rod Stewart, fashion designer Tommy Hilfiger, and television host Dr Mehmet Oz. 

“When looking at the neighbouring properties on ‘Billionaire’s Row,’ this property is truly the last of its kind,” says listing agent Shelly Newman from The Corcoran Group. 

“There is no demolition needed, there is no remodelling needed, this property allows for first-time, ground-up, new construction.” 

As the only dual waterfront Palm Beach property that has not yet been developed, Newman says the block is “a once-in-a-lifetime property”. 

The vacant lot came onto the market in 2022 for $US150 million ($AU239 million), but it was taken off the market without a sale. 

This is the first time the property has been offered for sale since 2022. 

Architectural plans have been created by Richard Sammons from Fairfax & Sammons, and are still awaiting approval by the local council. 

The renderings depict an elegant Mediterranean-style mansion with French doors, an avenue of palm trees, and a long infinity pool overlooking the lake.

The agent noted there is also the potential to subdivide the property and build two separate mansions. 

If the Florida block sells for its $318 million asking price, it would be more than double the price of the Toorak mansion that smashed Victoria’s house price record last week. 

For the price of the Palm Beach property, you could buy 37 median homes in Bellevue Hill, Sydney, and 75 median-priced houses in Toorak, Melbourne.