Stephen Ross’s primary residence is an oceanfront mansion called “The Reef” on Billionaires’ Row in Palm Beach, Florida, purchased in 2007 for about $31.9 million. He also holds a penthouse at 35 Hudson Yards in Manhattan, after selling his former Columbus Circle penthouse for $50.7 million in January 2026.
Stephen Ross has spent more than fifty years building some of the most recognisable addresses in American real estate, from Hudson Yards to Deutsche Bank Centre. So it makes sense that people are curious about where he lives himself.
The short answer: his primary home is a walled, oceanfront estate on Palm Beach’s Billionaires’ Row. But his real estate footprint is bigger than one house. He recently sold his longtime Manhattan penthouse for $50.7 million in an off-market deal, still holds a residence at his own Hudson Yards development, and is now pouring billions into West Palm Beach through a new luxury condo tower called South Flagler House.
Here’s what’s confirmed about each property, what changed recently, and why it matters if you’re following either the New York or South Florida luxury markets.
Who Is Stephen Ross?
Stephen M. Ross, born in 1940 in Detroit, is the founder of Related Companies, the real estate firm behind Hudson Yards, Deutsche Bank Centre, and CityPlace in West Palm Beach. He started the firm in 1972 after borrowing $10,000 from his mother, initially focusing on federally subsidised affordable housing before building Related into a company with more than $70 billion in assets across residential, office, retail, and mixed-use development.
Career Overview
Related’s biggest project, Hudson Yards, is a 28-acre mixed-use development on Manhattan’s West Side that’s considered the largest and most expensive real estate project in the country. In July 2024, Ross stepped down as chairman of Related Companies to focus on Related Ross, the Miami Dolphins, and Formula 1, though he remains non-executive chairman of the parent company.
Miami Dolphins Ownership
In February 2008, Ross bought 50% of the Miami Dolphins, Dolphin Stadium (now Hard Rock Stadium), and the surrounding land from Wayne Huizenga for $550 million, later becoming managing general partner. He has since spent $500 million of his own money renovating the stadium. In December 2024, Ross sold a 13% stake in the Dolphins, the Miami Grand Prix, and the Miami Open to Ares Management and the ownership group of the Brooklyn Nets, valuing the franchise at $8.1 billion.
Net Worth Snapshot
Wealth trackers put Ross’s net worth at roughly $15 billion as of early 2026, though exact figures shift with market conditions and asset sales. He’s also the largest individual donor in University of Michigan history, having given more than $480 million to his alma mater.
Where Does Stephen Ross Live?
Ross’s primary residence is his oceanfront estate in Palm Beach, Florida. He also holds onto a penthouse at 35 Hudson Yards in Manhattan — one of his own developments — after recently parting with the New York penthouse he’d lived in for years.
Primary Palm Beach Residence
Ross’s main home sits on Palm Beach’s Billionaires’ Row, an oceanfront stretch known for housing some of the wealthiest homeowners in the country.
Manhattan Residence (Former)
For years, Ross’s New York base was a full-floor penthouse atop the Time Warner Centre at 25 Columbus Circle, now known as Deutsche Bank Centre. That changed in January 2026, when the unit sold off-market for $50.7 million.
Other Notable Properties
Ross has been steadily trimming his New York City real estate. He sold an apartment at Related’s 70 Vestry Street in Tribeca for $9 million and a condo at Superior Ink in the West Village for just under $7 million, while holding onto his penthouse at 35 Hudson Yards.
Stephen Ross’s Palm Beach House
Location and Purchase History
Ross’s Palm Beach home is known as “The Reef,” located at 702 North County Road on Billionaires’ Row. He bought the property in October 2007 for roughly $31.9 million from the Subotnick family, who had owned it under the name given to it by its original architect, Maurice Fatio.
Property Details
The estate is a gated, walled oceanfront mansion with 12 bedrooms and 14 bathrooms. Reported features include a wine cellar holding around 1,000 bottles, a home theatre, a private tennis court, an infinity pool, staff quarters, and direct beach access via an elevator-serviced layout. Square footage estimates for the property vary by source, generally landing somewhere between 25,000 and 29,000 square feet.
Worth noting: current market-value estimates for this house circulating online aren’t independently verifiable, since Ross hasn’t listed or sold the property. Given the run-up in Palm Beach oceanfront pricing since 2007, it’s reasonable to assume the estate is worth several times its original purchase price — but any specific number should be treated as a guess rather than fact.
Neighborhood Overview
Billionaire’s Row in Palm Beach is one of the most tightly held residential stretches in Florida, home to a small circle of finance and real estate figures who tend to buy — and rarely sell.
Stephen Ross’s Former Manhattan Penthouse
Penthouse Overview
Ross received the penthouse — Unit PH80 at 25 Columbus Circle — as part of a development fee for building the twin-tower complex now called Deutsche Bank Centre. He and his family lived there for years before listing it.
Size and Layout
The full-floor unit spans more than 8,200 square feet, with five bedrooms and six or seven bathrooms depending on the listing period. Its parallelogram-shaped floor plan places shared and private living areas around the perimeter, with the staircase, landing, and bathrooms clustered in the centre.
Interior Design and Finishes
Ross and his then-wife, jewellery designer Kara Ross, worked with designer Tony Ingrao to outfit the apartment, reportedly before the building was even finished. Materials throughout the home included inlaid stone, marble and bubinga flooring, and padouk mouldings and doors.Specialityy rooms included a gym, a media room, a 22-foot formal dining room, and a library with hide-covered walls.
Views
The residence looked out over Central Park, with kitchen windows facing the Hudson River, and a corner master suite taking in sweeping city views from floor-to-ceiling windows.
Sale Timeline
- 2019: Listed for $75 million.
- 2022: Relisted around $49.9 million after several years on and off the market.
- 2023: Sold for $40 million.
- January 2026: Resold again, off-market, for $50.7 million — a $10 million gain over the 2023 sale, and the highest-priced Manhattan sale recorded so far in 2026.
Both the buyer and seller in the most recent deal transacted through anonymous LLCs, so the current owner’s identity hasn’t been made public.
Stephen Ross’s Luxury Real Estate Portfolio
Beyond his personal residences, Ross’s fingerprints are on some of the most talked-about developments in both New York and South Florida.
Manhattan Developments
Related’s New York portfolio includes Deutsche Bank Centre at Columbus Circle and Hudson Yards, a 28-acre project widely described as the largest private real estate development in American history.
West Palm Beach Holdings
Through Related Ross, the West Palm Beach-focused firm he launched in 2024, Ross controls a growing share of the city’s commercial core, including CityPlace, Hilton West Palm Beach, and RH West Palm, along with over 2.8 million square feet of Class A office space either built or under construction.
Other Ventures
Ross also holds investment stakes in Equinox Fitness Clubs, Equinox Hotels, and SoulCycle.
Stephen Ross’s West Palm Beach Vision: South Flagler House
South Flagler House is the clearest example yet of how seriously Ross is betting on West Palm Beach.
What Is South Flagler House?
South Flagler House is a two-tower, 105-to-108-unit ultra-luxury condominium at 1355 South Flagler Drive, on a roughly 3.4-acre waterfront site with views of the Intracoastal Waterway, Palm Beach Island, and the Atlantic Ocean. The towers, named Park and Lake, are designed by Robert A.M. Stern Architects, with interiors by Pembrooke & Ives.
The Timeline Behind the Project
- 2022: Local developers Frisbie Group and Hines acquire the land from Palm Beach Atlantic University for $41.5 million and begin planning the project.
- 2023: Ross and Related Ross acquire the land and development rights for roughly $195 million.
- April 2024: Related Ross breaks ground.
- June 2025: The project secures a $600 million construction loan — $475 million in senior debt from Bank OZK, plus a $125 million mezzanine loan from GoldenTree Asset Management and TZ Capital, making it South Florida’s largest condo construction loan of the year.
- November 2025: Both towers top out at their full 28-story height.
- 2027: Completion is targeted.
Pricing and Amenities
Units range from roughly 2,200 to over 15,500 square feet, with two to five bedrooms. Pricing runs from about $7.9 million to $73 million for the penthouse. Planned amenities include a pool and spa, fitness centre, yoga studio, pickleball courts, a golf simulator, a salon, a private dining room and catering kitchen, a wine tasting room, a media room, private offices and co-working space, a children’s playroom, a teen lounge, a dog run, and a sculpture garden.
Why West Palm Beach
South Flagler House is one piece of a much larger plan. Through Related Ross, Ross is targeting roughly $10 billion in investment across West Palm Beach, covering office towers, hospitality, and even a satellite university campus, as part of an effort to position the city as a serious alternative to Miami and, further afield, Wall Street.
Interesting Facts About Stephen Ross’s Homes
- His Palm Beach mansion, “The Reef,” was designed by noted society architect Maurice Fatio and predates Ross’s ownership by decades.
- The Manhattan penthouse he sold in 2026 was originally a development fee rather than a purchase — he effectively built the building he lived in.
- He’s held onto his penthouse at 35 Hudson Yards even as he’s sold off several other New York units, suggesting it’s likely to remain his New York base going forward.
- South Flagler House’s $600 million construction loan is one of the largest condo financing packages closed in South Florida in recent years.
Conclusion
Stephen Ross’s real estate footprint tells a bigger story than any single address. His Palm Beach mansion is where he actually lives. His Manhattan penthouse, recently sold for $50.7 million, closes out one chapter of his New York story while he keeps a foothold at Hudson Yards. And South Flagler House shows where his attention — and capital — is headed next: turning West Palm Beach into the kind of market that can command $73 million penthouses of its own.
FAQs
Where does Stephen Ross live?
His primary residence is an oceanfront estate on Billionaires’ Row in Palm Beach, Florida. He also holds a penthouse at 35 Hudson Yards in Manhattan.
Did Stephen Ross sell his Manhattan penthouse?
Yes. His former penthouse at 25 Columbus Circle (Deutsche Bank Centre) sold off-market for $50.7 million in January 2026, after previously selling for $40 million in 2023.
How much is Stephen Ross’s Palm Beach house worth?
He purchased it for roughly $31.9 million in 2007. No verified current valuation exists since the property hasn’t been listed or sold.
What is South Flagler House?
It’s a two-tower, 105-to-108-unit ultra-luxury condo development in West Palm Beach, led by Related Ross, with completion targeted for 2027.
Why is Stephen Ross investing so heavily in West Palm Beach?
Through Related Ross, he’s pursuing a roughly $10 billion investment plan aimed at building out office, residential, and hospitality space and positioning the city as a financial hub.
Does Stephen Ross still own property in Manhattan?
Yes. While he’s sold several New York units, including his longtime penthouse, he has kept his residence at 35 Hudson Yards.
