{"id":168745,"date":"2021-03-27T02:13:57","date_gmt":"2021-03-27T09:13:57","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=168745"},"modified":"2021-03-27T22:45:00","modified_gmt":"2021-03-28T05:45:00","slug":"steve-wynns-new-line-flipping-mansions-in-palm-beach","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/","title":{"rendered":"Steve Wynn\u2019s New Line: Flipping Mansions in Palm Beach"},"content":{"rendered":"

The Palm Beach property market has been skyrocketing, and inspired at least one disgraced billionaire casino mogul to cash in.<\/p>\n

\"Steve
The Palm Beach property that made Steve Wynn more than $5 million in three months. (Image: Palm Beach Daily News)<\/figcaption><\/figure>\n

According to the Palm Beach Daily News<\/em>, Steve Wynn<\/a> just made $5.2 million selling a mansion just three months after he bought it.<\/p>\n

A company controlled by Wynn, 78, acquired the luxury lakefront property in December for $18.4 million. It sold this week for $23.68 million.<\/p>\n

Palm Beach Real-Estate Boom<\/strong><\/h2>\n

The exclusive enclave that is home to Donald Trump\u2019s Mar-a-Lago Club has long been a haven for the super-rich, and never more so than now. The pandemic has triggered an exodus of America\u2019s wealthiest from its COVID-plagued cities. And they\u2019re all heading for Florida and \u201cThe Island,\u201d drawn by the promise of sun, golf, and zero income taxes.<\/p>\n

\u201cAnyone with money is fleeing New York and coming here,\u201d Guy Clark, an agent with Douglas Elliman Real Estate, told Bloomberg <\/em>recently. \u201cIt\u2019s a seller\u2019s market like I\u2019ve never experienced.\u201d<\/p>\n

The property Wynn just sold is a 7,273-square-foot Mediterranean-style home that sits on the Intracoastal Waterway, with 155 feet of water frontage and a private dock. Unusually, it has more bathrooms (five) than bedrooms (four). It also has a glass wine cellar, a fireplace, and an elevator. Outside there\u2019s a covered balcony, a 40-foot pool with a sun shelf, and a spa.<\/p>\n

\n

Built in 2020, it had never been lived in when Wynn bought it. And that\u2019s probably still the case. Wynn certainly never lived there: his main residence is three miles south at 1960 S. Ocean Blvd.<\/strong><\/p>\n<\/div>\n

Last month, he bought another lakeside house across town at North Lake Way for $49 million, which suggests flipping Palm Beach mansions is Wynn\u2019s new thing. Here, after all, is man who made his billions flipping Las Vegas Strip resorts like the Mirage, Treasure Island, and the Bellagio.<\/p>\n

Living Le R\u0207ve <\/strong><\/h2>\n

Wynn relocated to Florida shortly after explosive allegations of sexual misconduct towards female staff forced him to sell his 11.8 percent stake in Wynn Resorts for $2.1 billion.<\/p>\n

He also sold his mansion in Summerlin, and, more recently, listed\u00a0his sprawling Beverly Hills estate<\/a> for an extraordinary $110 million.<\/p>\n

The man who reinvented Las Vegas has reinvented himself as an art dealer, and for the past year or more has run a gallery on the second floor of The Esplanade on Worth Avenue, Palm Beach\u2019s famous upscale shopping district.<\/p>\n

The longtime collector of fine art sells multimillion dollar artworks, including Picassos, Matisses, and Warhols through the gallery and via his website, sierrafineartllc.com.<\/p>\n

His new career got off to a bad start when a Picasso (“Le Marin”) he hoped to auction at Christies was damaged after being hit by a rogue paint roller.<\/p>\n

It was the second time Wynn has clobbered a Picasso. In 2006, he famously put his right elbow through the canvas of \u201cLe R\u0207ve\u201d while showing it off in his office, causing millions of dollars of damage.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Palm Beach property market has been skyrocketing, and inspired at least one disgraced billionaire casino mogul to cash in. According to the Palm Beach Daily News, Steve Wynn just made $5.2 million selling a mansion just three months after he bought it. A company controlled by Wynn, 78, acquired the luxury lakefront property in […]<\/p>\n","protected":false},"author":36,"featured_media":168746,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,18],"tags":[],"acf":[],"yoast_head":"\nSteve Wynn\u2019s New Line: Flipping Mansions in Palm Beach<\/title>\n<meta name=\"description\" content=\"Steve Wynn just sold a Palm Beach mansion for a $5.2 million profit just three months after he bought it, as he cashes in on property boom.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steve Wynn\u2019s New Line: Flipping Mansions in Palm Beach\" \/>\n<meta property=\"og:description\" content=\"Steve Wynn just sold a Palm Beach mansion for a $5.2 million profit just three months after he bought it, as he cashes in on property boom.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-27T09:13:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-28T05:45:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/Palm-beach.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2400\" \/>\n\t<meta property=\"og:image:height\" content=\"1348\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/\",\"url\":\"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/\",\"name\":\"Steve Wynn\u2019s New Line: Flipping Mansions in Palm Beach\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/Palm-beach.jpg\",\"datePublished\":\"2021-03-27T09:13:57+00:00\",\"dateModified\":\"2021-03-28T05:45:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Steve Wynn just sold a Palm Beach mansion for a $5.2 million profit just three months after he bought it, as he cashes in on property boom.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynns-new-line-flipping-mansions-in-palm-beach\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/Palm-beach.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/03\/Palm-beach.jpg\",\"width\":2400,\"height\":1348,\"caption\":\"The Palm Beach property that made Steve Wynn more than $5 million in three months. 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