The property first came to market in January 2024 with Margit Brandt of Premier Estate Properties, and it was marked pending earlier this week. Brandt did not immediately respond to a request for comment.
The house, near Mar-a-Lago in Palm Beach, Florida, is surrounded by real estate the president and his family members own
A spec home opposite Mar-a-Lago in Palm Beach, Florida, with an asking price of $45 million has gone into contract.
The home on South Ocean Boulevard, which is within the security zone of President Trump’s “Winter White House,” is still being built and is expected to be completed in the fall.
The megamansion-to-be will span over 13,000 square feet on an 0.43-acre lot. Developed by the Connecticut-based Kaali-Nagy Co., the home includes six bedrooms, a gym, wine cellar, a lap pool, a yoga studio and spa amenities.
The primary suite includes an oversized walk-in closet, a wet bar and its own terrace. Outside, the pool is surrounded by expansive loggia and terrace space, a cabana and a barbecue area.
The seller is an LLC associated with Kaali-Nagy and another South Florida developer, Lionview Holdings, led by Nedim Soylemez and George Taylor, who have built other spec mansions in Palm Beach.
The entity purchased an existing home on the lot for $5.6 million in 2021 and secured a $10 million loan to replace it with a new build, according to property records. The loan was increased to $15 million two years later, and both loan documents were signed by Foster Kaali-Nagy, per the documents. Kaali-Nagy did not immediately respond to a request for comment.
The property first came to market in January 2024 with Margit Brandt of Premier Estate Properties, and it was marked pending earlier this week. Brandt did not immediately respond to a request for comment.
The buyer gets access to the Mar-a-Lago Club without paying an initiation fee, though they are required to complete an interview process and pay yearly dues. It’s also surrounded by Trump properties. A house next door belongs to the president’s sister, Elizabeth Trump Grau, and two houses across the street are owned by the Trump family, according to public record and the Palm Beach Daily News, which first reported the spec home deal.
The sale is part of a recent “Trump Bump” in the Palm Beach area, with $10 million-plus sales soaring in the months after Trump was elected president, according to data from appraisal firm Miller Samuel. In November and December alone, 15 Palm Beach houses sold for $10 million or more, compared to three in the same period the year before—or five times as many, per the data.
In a market with so little inventory and scant opportunity to build more, existing owners are capitalizing on the moment. For instance, another mansion near Mar-a-Lago listed last week for $15 million.