Estée Lauder chairman razes $110 million mansion a year after purchase

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Bettina Norgaard/Pixabay” alt=”Less than a year after it was sold for $110 million, a sprawling mansion in Palm Beach, Florida is being demolished by its new owner, the executive chairman of multinational cosmetics company Estée Lauder . Photo of Bettina Norgaard/Pixabay“/>

Less than a year after it was sold for $110 million, a huge mansion in Palm Beach, Florida is being demolished by its new owner, the executive chairman of multinational cosmetics company Estée Lauder. Photo by Bettina Nørgaard/Pixabay

October 27 (UPI) — Less than a year after it was sold for $110 million, a huge mansion in Palm Beach, Florida is being demolished by its new owner, the executive chairman of multinational cosmetics company Estée Lauder.

A company linked to William Lauder has purchased the three-story Palm Beach mansion at 1071 N. Ocean Blvd. late last year, the Palm Beach Post reported Thursday.

Lauder is the grandson of Estée Lauder, who started producing cosmetics with her husband in New York in 1946.

The 35,000 square foot beachfront home was built in 2016 and previously sold in 2019 for $40.8 million.

Crews began work on Wednesday in what is being called the most expensive demolition in the city’s history. It was also equipped with seven bedrooms, 16 bathrooms and two guest apartments.

Lawn, car land, and landscaping from the property were also removed.

The now-demolished house included a home theater, library, wine cellar, fitness center, hair salon, and pub room.

The house was located next to currently vacant land that Lauder also owns through a separate numbered LLC.

No new development plan has yet been filed with the city, although construction may eventually span two lots.

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