Oracle co-founder Larry Ellison is putting one of his most spectacular Florida properties back on the market, and this time the asking price is $165 million. The Wall Street Journal first reported the planned relisting, while The Real Deal and Realtor.com provided additional details about the property, its history and the latest listing. Ellison bought the 8.4-acre oceanfront estate in North Palm Beach for $80 million in 2021, meaning the current asking price is more than double what he paid five years ago. The property, known as the Seminole Beach Estate, sits inside the gated Seminole Landing community, next to the Seminole Golf Club. Rather than being a typical luxury-home sale, however, the listing is largely about the extraordinary piece of land itself. The estate is among the largest oceanfront parcels in Palm Beach County, with roughly 562 to 563 feet of direct Atlantic frontage, depending on the source.
A property built for a major redevelopment
Ellison acquired the estate through an entity linked to him in April 2021. At the time, his plan was reportedly to demolish the existing Mediterranean-style residence and create something new on the expansive oceanfront site. That never happened. The existing house remained, and the property was subsequently offered for sale in 2022 with a $145 million asking price. It failed to find a buyer and was eventually taken off the market. Now, instead of reducing the price, Ellison has returned with an even higher figure: $165 million.The new asking price would represent a 106% increase over Ellison’s original purchase price. The Real Deal reported that it also amounts to more than $10,000 per square foot and roughly $19.6 million per acre, making it a record-level ask for North Palm Beach.
Inside the oceanfront compound
The existing residence, built in 1991, spans more than 16,000 square feet. Realtor.com lists seven bedrooms and eight bathrooms, while other property reports describe additional half-baths and extensive supporting spaces. The house also comes with a four-car garage, pool terrace, tennis court, wine room and a VIP guest suite.But the home’s size may not be the property’s biggest selling point. The estate offers direct access to the Atlantic and an unusually large stretch of beachfront, making it particularly attractive to a buyer interested in building a custom compound rather than simply moving into the existing house. The parcel also has room for a private helipad, a rare feature even among South Florida’s most expensive estates. It sits within a community with around-the-clock security, adding another layer of privacy to the already secluded oceanfront setting.
Why Ellison may be moving on
The sale comes as Ellison continues to concentrate significant real estate holdings farther south in Palm Beach County. In 2022, an Ellison-controlled company acquired a roughly 15-acre ocean-to-Intracoastal estate in Manalapan for $173 million. This year, he has continued expanding that property with an additional land purchase reported at about $35 million.His Palm Beach County portfolio is already extensive. In 2023, he reportedly spent nearly $10 million acquiring eight homes in Boynton Beach to house staff connected with his Manalapan operation. That makes the decision to part with the North Palm Beach property less surprising. Rather than developing another enormous residence, Ellison appears to be concentrating his South Florida real estate footprint around the much larger Manalapan compound.Whether someone will pay $165 million for the Seminole Landing estate remains to be seen. For now, the figure is an asking price rather than a completed sale. But if it attracts a buyer anywhere near that number, Ellison’s five-year-old $80 million purchase could become one of North Palm Beach’s most significant luxury-property transactions.