Stephen M. Ross is a real-estate giant who began his career as a tax attorney. After founding Related Companies in 1972, an affordable housing firm, he purchased the Miami Dolphins in 2009 for nearly $1 billion.
Now 84 years old, Ross has a net worth of $10.1 billion and, as expected, owns multiple properties across the country. Let’s take a look at Ross’ primary house in Palm Beach County, Florida, known as “The Reef.”
Inside Stephen Ross’ $37 Million Home
Built on a 2.1-acre lot, the 11,000-square-foot mansion is a sea-facing property designed by Treanor & Fatio and constructed in 1931. The house at 702 N. County Road is considered one of Maurice Fatio’s best works.
“The Reef” at Palm Beach was valued at $37 million in 2020. Ross purchased the house in 2007 for $31.8 million from its previous owners, Anita and Stuart Subotnick. It features seven bedrooms, 11 bathrooms, a private swimming pool, and a waterfront sitting area.
Despite nearly 10 decades of existence, the house still retains much of its original charm. The last appraised value of the house was $37 million in 2020, but since then, property values in Palm Beach have surged by 1.5x — this suggests that “The Reef” may now be valued at around $55 million.
In addition to his Palm Beach residence, Ross owns several other properties. He and his former wife, Kara Ross, also owned a 10,000-square-foot mansion in Southampton, which included eight bedrooms and 10 bathrooms across two separate buildings. This property was assessed at $4.1 million in 2020.
The couple also owned a massive condo at Related’s Time Warner Center near Central Park. The penthouse features marble floors, five bedrooms, six and a half bathrooms, a 42-foot-wide living room, a 22-foot-wide dining room, a professional chef’s kitchen, and a breakfast nook with a view of the Hudson River. It was sold for nearly $49.9 million after being initially listed at $75 million.