The Real Deal Miami

Russian billionaire scores demolition permit to raze Trump’s former estate in Palm Beach

Billionaire was outed as home's true owner during divorce proceedings

July 27, 2016 12:45PM

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515 North County Road (Credit: and Dmitry Rybolovlev (Credit: Francknataf)

515 North County Road (Credit: and Dmitry Rybolovlev (Credit: Francknataf)

Four months after Palm Beach’s Architectural Commission signed off on the demolition, a company affiliated with Russian billionaire Dmitry Rybolovlev has scored the permit it needs to raze a massive 6-acre estate formerly owned by presidential candidate Donald Trump.

The permit covers the main 62,000-square-foot home, according to the Palm Beach Daily News, plus a separate tennis house with guest rooms, pool house and swimming pool.

Mauro Brothers, a contracting firm based out of Boynton Beach, will handle the demolition. It’s unclear when the estate will actually be razed, according to the Daily News, but a chain-link fence already wraps the property.

The home, located at 515 North County Road, is owned by a limited liability company named County Road Property. As part of his highly publicized $4.5 billion divorce with wife Elena, Dmitry Rybolovlev was outed as the home’s true owner. He paid Trump $95 million for the estate in 2008, marking Palm Beach’s priciest home sale ever. Forbes pegs his net worth at $7.7 billion, and reported that he made his fortune off investing in Russian industries like potassium fertilizers.

His plans for the 6-acre waterfront estate once it’s vacant are yet unknown, but the property would become a prime piece of developable land in a town where vacant beachfront parcels are a rarity. [Palm Beach Daily News]Sean Stewart-Muniz