PALM BEACH, Fla. — It seems that one Palm Beach billionaire's treasure is another Palm Beach billionaire's trash.
A limited liability company linked to Estee Lauder executive chairman William P. Lauder purchased the property at 1071 N. Ocean Blvd. late last year, the Palm Beach Daily News reported.
Now the three-story, more-than-35,000-square-foot oceanfront mansion is being torn down — presumably to make way for another even larger manor.
The opulent estate, which was built in 2016, was being razed Wednesday after a notice of commencement to demolish the property was recently filed with the Palm Beach County clerk's office.
According to the Palm Beach Daily News, the demolition is being billed as the most expensive tear-down in the town's history.
Some Palm Beach residents angered by the demolition told the Daily Beast that the leveling is a "complete waste" and an eyesore after years of construction, renovations and now this.
The 6-year-old mansion had been built with a home theater, library, wine room, fitness center, barber shop and pub room.
Palm Beach County property records show that it changed hands in 2019 before Reiwa Holdings LLC took control two years later.
Plans for the future of the property haven't been submitted to the town, leaving the future of the lot in limbo.
The Palm Beach Daily News reported that Lauder also owns a vacant parcel of land next to the property through a different LLC.