• A mansion near Palm Beach, Florida, that has yet to be built is on the market for $285 million.
• The seller, who develops real estate as a hobby, paid $27.5 million for the property in March 2024.
• The mansion, with car museum, padel court, and shooting range, is the US' priciest new home for sale.

A former CEO who develops real estate as a hobby has listed a South Florida mansion that hasn't been built yet for $285 million.

That asking price makes it the most expensive new home for sale in the US. (The country's priciest property for sale is a waterfront compound in Naples, across the state on Florida's west coast, on the market for $295 million.)

The $285 million property — located in Manalapan, Florida, a barrier island with a population of just over 400 that's about 11 miles south of Palm Beach — is next door to Oracle cofounder Larry Ellison's estate, which he paid $173 million for in 2022.

Stewart Satter, the seller of the planned estate, built his wealth by founding Consumer Testing Laboratories, a company that tested products for safety. He sold the firm in 2016.

Palm Beach County property records show an LLC managed by Satter purchased the property in March 2024 for $27.5 million. That same month, Satter demolished the existing property, according to the records.

The compound designed for the parcel is more than 50,000 square feet, with a separate beach house and a boat house, plus a bowling alley, a car museum, a gym and spa, a padel court, a golf simulator, and a shooting range.

Take a look at renderings that offer tantalizing glimpses into Satter's planned over-the-top mansion.