JEFF OSTROWSKI, PALM BEACH POST In another sign of just how hot the mansion market is, the oceanfront estate built by billionaire businessman and philanthropist Sidney Kimmel has sold for $81.5 million, a record for the island. John L. Thornton, 54, a former Goldman Sachs partner and chairman of the Brookings Institution, is the buyer, people familiar with the transaction said. While the sale price was officially recorded Tuesday at $77.5 million, listing agent Paulette Koch said the buyer also paid $4 million in closing costs. That means Kimmel got his full asking price of $81.5 million. . .
"The house was in impeccable condition, with the finest details," said Koch, adding that three other buyers were interested in the property. The estate boasts 5 lushly landscaped acres and 300 feet of ocean frontage. The 32,000-square-foot home was designed by Thierry Despont, who also created Bill Gates' mansion. The living room includes 26-foot ceilings and 20-foot-high glass panels that disappear into the floor at the push of a button. The home also features a wine cellar, pool, waterfalls, staff quarters and an air chiller and 27-zone air conditioning system.
The sale tops the previous Palm Beach record of $70 million, which Ron Perelman's estate fetched in 2004. . . For many, the home's property tax bill alone would prove daunting - $517,775 last year. . .
Thornton could not be reached for comment. In addition to his role with Brookings, an independent research and policy institute based in Washington, he is a director of Intel Corp., Ford Motor Co. and News Corp. He's also a professor of global leadership at Tsinghua University in Beijing.
It's not the first time Thornton has proved bullish on real estate. In 2001, he set a record for New Jersey home sales by paying $18 million for a 118-acre estate in Bedminster that Princeton University had been using as a retreat, The New York Times reported.
"The house was in impeccable condition, with the finest details," said Koch, adding that three other buyers were interested in the property. The estate boasts 5 lushly landscaped acres and 300 feet of ocean frontage. The 32,000-square-foot home was designed by Thierry Despont, who also created Bill Gates' mansion. The living room includes 26-foot ceilings and 20-foot-high glass panels that disappear into the floor at the push of a button. The home also features a wine cellar, pool, waterfalls, staff quarters and an air chiller and 27-zone air conditioning system.
The sale tops the previous Palm Beach record of $70 million, which Ron Perelman's estate fetched in 2004. . . For many, the home's property tax bill alone would prove daunting - $517,775 last year. . .
Thornton could not be reached for comment. In addition to his role with Brookings, an independent research and policy institute based in Washington, he is a director of Intel Corp., Ford Motor Co. and News Corp. He's also a professor of global leadership at Tsinghua University in Beijing.
It's not the first time Thornton has proved bullish on real estate. In 2001, he set a record for New Jersey home sales by paying $18 million for a 118-acre estate in Bedminster that Princeton University had been using as a retreat, The New York Times reported.
No comments:
Post a Comment