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- A sprawling Florida mansion just sold to an unidentified buyer for more than $110 million, making it the most expensive single-family home ever sold in Palm Beach, the Palm Beach Daily News reported.
- The transaction broke the record set by President Donald Trump back in 2008 when he sold his Palm Beach home to a Russian billionaire for $95 million.
- The Italian Renaissance-style estate is right down the street from Trump’s Mar-a-Lago club and billionaire Ken Griffin’s estate.
- The $110 million home, which belonged to late Broadway producer Terry Allen Kramer, includes 210 feet of private beach, a pool and cabana, a luxury fitness center, fruit orchards, canopies of Banyan trees, lush landscaped gardens, and a private boat dock.
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A sprawling Florida mansion just sold for more than $110 million, breaking a real-estate record set by President Trump back in 2008, the Palm Beach Daily News reported.
The Italian Renaissance-style estate, which belonged to late Broadway producer Terry Allen Kramer, is the most expensive single-family home ever sold in Palm Beach. The previous record was the sale of Trump’s home for $95 million to a Russian billionaire in 2008.
Kramer’s former property, which was listed in October 2018 for $135 million, includes 210 feet of private beach, fruit orchards, canopies of Banyan trees, a luxury fitness center, pool and cabana, lush gardens, and a private boat dock.
The mansion is located at 1295 S. Ocean Blvd. in the Billionaires Row area of Palm Beach, Florida, on South Ocean Boulevard, only half a mile from Donald Trump’s Mar-a-Lago resort. It’s also a neighbor of billionaire Ken Griffin, who spent $250 million assembling an estate on the same boulevard, as Business Insider’s Lina Batarags previously reported.
The listing agents were Gary Pohrer, Ashley McIntosh, Cara Coniglio McClure, Lisa Wilkinson, and Adam McPherson of Douglas Elliman.
Here’s a look at the expansive property.
A sprawling estate in the “Billionaires’ Row” area of Palm Beach, Florida, just sold for more than $110 million, breaking the record for the most expensive single-family home sale ever in the affluent town.
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The property is only a one-minute drive or a 10-minute walk to Donald Trump’s Mar-a-Lago club.
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It’s also a neighbor of billionaire Ken Griffin, who spent $250 million assembling an estate at 1265 S. Ocean Blvd.
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The property belonged to late Broadway producer Terry Allen Kramer, who died in May 2019 and was known for producing shows like “Kinky Boots” and “Evita.”
BILLY FARRELL/Patrick McMullan via Getty Images
Along with her late husband, Kramer had the estate built in 1995 to look like an Italian Renaissance-style palazzo.
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The entrance to the estate, called “La Follia,” is marked by an opulent wrought-iron gate and a pair of elephant sculptures.
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The driveway, shaded by a canopy of Banyan trees, leads to the porte cochere, a type of covered entrance.
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The porte cochere allows residents to be protected from the elements between getting out of a car and going inside the house.
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The foyer opens into multiple living areas on the first floor.
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The home offers 20,411 square feet of total living space.
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A wood-paneled gentleman’s club room includes a fireplace and its own bar.
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It was designed by renowned Palm Beach architect Jeffrey Smith.
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The house has several dining areas, including a space with two round tables and a fireplace …
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… and an even more intricate and light-filled space.
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The kitchen features white cabinets and stainless steel appliances including a large gas range.
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The main house comes with four private suites …
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… with private bathrooms.
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There’s one lavish master suite …
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… with an exceptionally spacious en suite bathroom.
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A fitness center is located near the pool area.
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The home blends indoor and outdoor living with several living spaces that open to the outdoors.
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Outside, you can find plenty of spaces for al fresco dining …
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… or lounging and entertaining.
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The guest wings overlook the estate’s pool …
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… complete with a cabana and lounge chairs.
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The estate’s listing notes that it was built 24 feet above sea level, allowing for unobstructed sea views.
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Situated on a skinny strip of land between the sea and Lake Worth lagoon, the home is the only direct ocean-to-lake estate on Palm Beach, according to the listing.
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La Follia comes with 210 feet of private beach …
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… and lush, landscaped gardens.
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With its sale for more than $110 million, La Follia is the most expensive home ever sold in Palm Beach. The previous record was held by the $95 million sale of Donald Trump’s Palm Beach home to Russian billionaire Dmitry Rybolovlev in 2008.
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