ByMary Whitfill Roeloffs,

Forbes Staff.

A storied waterfront estate has hit the market in Palm Beach for $185 million, complete with more than 2 acres of land, a guest house, tennis court and a 24,000-square-foot main home—that the property’s next buyer could very well tear down.

At 911 N. Ocean Blvd., the property is known to locals as the Goodman Estate and has been owned by the same couple, late real estate developer Murray H. Goodman and his wife Joanie, since the 1970s.

The couple custom-built the home, which has 12 bedrooms, 20 bathrooms, marble floors, fireplace and wet bar, on a 2.5-acre lot with 250 feet of shoreline.