Yard House founder nabs Fisher Island condo

Three-bedroom unit was listed for $8.55M

Sep.September 11, 2015 03:45 PM

Renderings of Palazzo del Sol

The founder and former CEO of Yard House restaurants is under contract to purchase a unit at Palazzo Del Sol in Fisher Island, The Real Deal has learned.

Steele Platt, who sold the restaurant chain to Darden for $585 million in 2012, is buying the three-bedroom, three-and-a-half bath condo to make it his primary residence, according to a spokesperson for the developer. The sale will mark Platt’s first home on the East Coast. It was listed for $8.55 million. A sales price was not disclosed.

Platt’s new condo will feature a Signature Boffi collection kitchen, Gaggenau and SubZero appliances, marble, Lualdi interior doors and hardware, and Apure lighting systems by Porsche Design Studio. Joseph Zichelle and Ani Sierra of the Zichelle Team of ONE Sotheby’s International Realty represented Platt.

When completed in January, the corner, flow-through unit will also include wraparound terraces, a private elevator entry and floor-to-ceiling glass windows. Among Palazzo’s amenities are a theater, salon, gym, children’s playroom, private massage rooms, meeting space and two lobbies. The 47-unit development is the first new construction on the island since 2007, and will be 10-stories tall excluding the penthouse rooftop deck.

Fisher Island boasts stars and athletes, entrepreneurs, CEOs and billionaires from more than 45 countries, and says its 675 families’ high per capita income has led its zip code to rank among the highest in the United States.

Prices at Palazzo del Sol have gone as high as $35 million for a 9,715-square-foot penthouse earlier this year. PDS Development is spearheading the project.

Platt, who was born in Jacksonville, also has homes in California, Idaho and Arizona. He founded Yard House in 1996 and sold all 39 stores at the time in 2012. Darden owns Olive Garden. — Katherine Kallergis

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