Casa del Ensueños, a waterfront estate in Palm Beach designed in the 1920s by high-society architect Addison Mizner—widely considered the founding figure of Mediterranean Revival architecture in South Florida—has returned to the market with a significantly reduced $157 million price tag after debuting last year at $175 million. Even with the chop, the sprawling compound still ranks among the most expensive homes currently for sale worldwide.

Set on approximately 1.5 acres along the Intracoastal Waterway, the estate encompasses roughly 21,500 square feet across a main residence, guesthouse, boathouse, and tennis pavilion, along with an additional 5,500 square feet of outdoor living areas. In total, there are 15 bedrooms, 18 full bathrooms, and five half baths. Interiors lean into Mizner’s signature style, with arched openings, stone detailing, and rooms oriented to maximize water views. A spacious rear loggia stretches the length of the home, opening directly onto terraces for alfresco dining and lounging.

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The amenity package is extensive even by Palm Beach standards. A theater with a stage serves as a focal point for live performances, while a chef’s kitchen sits at the center of the main living areas, and eight fireplaces are distributed throughout. The primary suite features dual bathrooms and separate dressing areas. Additional conveniences include an elevator, a full-house generator, a new seawall, and a comprehensive security system.

Outdoors, a heated infinity pool clad in blue mosaic tile faces the Intracoastal, complemented by a sunken red-clay tennis court with its own pavilion and private docks with a boat lift.

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Businesswoman Ann DesRuisseaux reportedly purchased the home in 2020 for $24 million and spent the following years updating the structure. Much of the work focused on mitigating tidal and storm-related flooding, including improvements to the foundation and surrounding infrastructure. The project also restored original architectural details while reconfiguring portions of the interiors for modern use.

Located in Palm Beach’s Estate Section, the compound sits just minutes from Mar-a-Lago and Worth Avenue, placing it within one of the town’s most established and coveted enclaves. The listing is held by Margit Brandt of Premier Estate Properties.

Click here to see more photos of the Palm Beach estate.