Steve Wynn, former casino mogul, has purchased a $12.9 million waterfront property in West Palm Beach, Florida, with plans for demolition and redevelopment. The 2,005-square-foot home, located at 2916 Washington Road, sits on a half-acre lot overlooking the Lake Worth Lagoon with distant views of Mar-a-Lago.

The property, built in 1956, was acquired on December 12 through a Wynn-controlled entity. The previous owners, who purchased the home in 1984 for $275,000, held the property for four decades before this sale.

Wynn has established himself as a successful luxury real estate investor in the area, with several notable transactions:

• 1040 N. Lake Way: Purchased for $24 million, sold for $32 million (2022)
• 235 Via Vizcaya: Bought for $18.4 million, sold for $23.6 million (2021)
• 1960 S. Ocean Blvd.: Current primary residence, purchased for $43 million in 2019 (current Zillow estimate: $97 million)

Beyond his real estate ventures, Wynn has expanded his presence in the art world with the opening of Wynn Fine Art galleries in Aspen, Beverly Hills, New York, and West Palm Beach. His newest gallery in Aspen showcases museum-quality works from renowned artists including Pablo Picasso, Andy Warhol, Roy Lichtenstein, and Jean Michel Basquiat.

Wynn also maintains a significant presence in Aspen, where he co-owns a 22,000-square-foot compound valued at $110 million.

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