Stephen Ross Buying Out Condo Near Trump’s Mar-a-Lago in West Palm

Stephen Ross isn’t slowing down in West Palm Beach, Fla.

The billionaire developer and owner of the Miami Dolphins NFL team is buying out a waterfront condo building near President Trump’s Mar-a-Lago compound, likely setting the stage for Ross’s next luxury condo.

Ross’s firm, Related Ross, spent about $38 million to buy 44 units within the Southbridge condo building at 3915 South Flagler Drive, adjacent to Southern Boulevard, facing Mar-a-Lago from across the Intracoastal Waterway, property records show. The three-story property was built in 1981 on a 1.3-acre parcel and houses 63 condos. 

A representative for Related Ross did not immediately respond to a request for comment.   

The West Palm Beach-based company has been acquiring units at the Southbridge property since 2024, and most recently closed on 25 units this month. The purchases give the developer control over nearly 70 percent of the building. 

Related Ross will most likely move to terminate the condo association, granting the firm full control of the building, paving the way for its demolition and a new luxury condo development.

Condo terminations have become more common following the deadly collapse of the Champlain Towers South building five years ago in Surfside. Instead of paying for expensive structural repairs, some condo owners are choosing to sell to developers. Still, buyouts remain difficult to accomplish given that they require the approval of most, if not all, owners. 

But at the Southbridge building, Ross duked it out with another high-profile South Florida developer. Fort Partners, the owner of all Four Seasons resorts in the region, made competing offers to condo owners. 

Related Ross and Fort Partners settled a lawsuit in October, The Real Deal reported. Fort Partners, which owns the neighboring condo building, had planned to build a luxury condo across what would have been a 4-acre site. 

For Ross, the acquisition marks just his latest move in West Palm Beach. Since launching Related Ross in 2024, the mogul has been rebranding the city as a business hub, successfully lobbying for high-profile companies, such as Goldman Sachs, Wells Fargo, and J.P. Morgan Chase, to open offices.

To accommodate the wealthy executives and their families, Ross has also moved beyond building office developments. Last year, his firm scored a $600 million construction package for RAMSA-designed, waterfront condo building and has launched sales for another.

Julia Echikson can be reached at jechikson@commercialobserver.com.