Billionaire fashion mogul Tom Ford splurged on a modernist mansion in Palm Beach, Florida, for a record-breaking $51 million. The modern Palm Beach mansion, which sits at nearly 1 acre of property, was sold in an off-market deal which recently closed last month.
The purchase comes after Estée Lauder Cos. acquired the Tom Ford fashion label for a whopping $2.8 billion.
The $51 million Palm Beach mansion is said to have three bedrooms with 10,200 square feet of space. This estate boasts a two-bedroom guest house, not to mention an additional five full bathrooms and four half-bathrooms. To top it off, the property also features a pool.
The Real Deal also reported that the estate was awarded an award for excellence in design in 2019 by the Preservation Foundation of Palm Beach.
According to reports, the renowned Tom Ford acquired his property from a trust managed by an attorney based in Sacramento and an illustrious business management firm headquartered in Los Angeles called Gelfand, Rennert, & Feldman.
Even though the mansion is not a waterfront property, its location is still in one of the most expensive zip codes in the country.
This recent purchase by Tom Ford adds to Florida’s growing list of high-end real estate deals in the area. Josh Stein, a Miami-based real estate broker, said, “The record-setting sale of
Tom Ford’s new Palm Beach estate proves that Florida is a world leader in luxury real estate.”
With the purchase of his new mansion for $51 million, it looks like Tom Ford is ready to make Palm Beach his permanent home.
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