The Real Deal Miami

Palm Beach estate listed since ’11 is under contract

Deceased billionaire John W. Kluge willed the estate to Columbia University, his alma mater

March 05, 2016 02:00PM

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89 Middle Road, Palm Beach

89 Middle Road, Palm Beach

The former Palm Beach estate of deceased billionaire John W. Kluge is finally under contract after almost five years on the market with its original $59 million asking price unchanged.

News of the contract was revealed in an update to the Palm Beach Board of Realtors Multiple Listing Service. The identity of the potential buyer and purchase price were unavailable.

Kluge, whom Forbes magazine once ranked among the richest people in the world, died in September 2010 at the age of 95. His will transferred ownership of the oceanfront Palm Beach estate,  known as Las Casa Sin Nombre, to his alma mater, Columbia University, the current owner of the property.

The estate at 89 Middle Road covers almost four acres and has five buildings, including two houses, with a total of 21,500 square feet of living space indoors and outdoors.

Two Palm Beach realty firms have shared the listing for the Kluge estate since 2011. The agents who have jointly marketed the property are Carol Diggs and Carole Hogan of Brown Harris Stevens and Paulette Koch and Dana Koch of Corcoran Group. [Palm Beach Daily News] — Mike Seemuth