Tom Ford Disclosed as Buyer of $51M Palm Seaside Estate

Just one of America’s biggest names in trend just dropped a fairly penny on a Palm Beach estate.

Designer Tom Ford was uncovered as the consumer in the record-location flip of a non-waterfront compound, the Wall Avenue Journal reported. Ford bought the mansion at 241 Jungle Highway from tech personal fairness main Rob Heyvaert for $51 million in an off-industry offer that closed past thirty day period.

Ford’s order will come on the heels of the $2.8 billion sale of his eponymous brand name to Estée Lauder, the namesake cosmetics huge started by late Palm Beacher Estée Lauder.

The acquire rate of the estate set a file for dry qualities on the island, where by price ranges north of the $50 million mark historically have only been the area of waterfront attributes.

The sale was a flip for Heyvaert, who paid $35.8 million for the assets in 2021. He is the founder and controlling husband or wife of Motive Partners, a New York-primarily based non-public fairness fund with a aim on tech investments.

Ford bought the home as a result of a belief managed by a Sacramento-primarily based attorney and the Los Angeles-centered celebrity enterprise management firm Gelfand, Rennert, & Feldman.

Built in 2016 on a approximately 1-acre assets, the major mansion spans 10,200 square ft with 3 bedrooms, records show. The residence also features a two-bedroom visitor home, with a total of 5 bathrooms and 4 half-bathrooms between each homes. The estate also contains a pool. The Palm Beach front Preservation Society honored the estate with an award for excellence in layout in 2019.

Despite an over-all cooling in the South Florida residential marketplace, non-waterfront luxurious households in Palm Beach front have taken care of potent pricing in latest gross sales.

The luxury builder Courchene bought a non-waterfront spec mansion for $32 million very last thirty day period. A wealth administration CEO sold his non-waterfront estate for $21.3 million in November.