The Real Deal Miami

Broadway producer lists Palm Beach oceanfront estate for $135M

Asking price would set record for the most expensive resi sale in Palm Beach County
October 22, 2018 02:30PM

1295 South Ocean Boulevard and Terry Allen Kramer (Credit: Google Maps and Getty Images)

A Broadway producer just listed her 5-acre estate in Palm Beach for $135 million — an asking price that if achieved, would set a new record as the most expensive residential sale in Palm Beach County history.

Terry Allen Kramer listed the 37,516-square-foot, 13-bedroom compound at 1295 South Ocean Boulevard with Gary Pohrer, Ashley McIntosh, Lisa Wilkinson, Cara McClure and Adam McPherson of Douglas Elliman, according to the Wall Street Journal.

Called ‘La Follia,’ the home sits on South Ocean Boulevard in a narrow stretch of land known as “Billionaire’s Row,” a neighborhood that has attracted the likes of casino resort developer Steve Wynn and Blackstone CEO Stephen Schwarzman.

The home, completed in 1996 by architect Jeff Smith, features wrought-iron gates flanked by elephant sculptures and a two-story entrance foyer with 25-foot ceilings, according to the publication. Other features include a five-car garage, a boat dock, a fitness center, movie theater and gaming area.

The most expensive home sale in Palm Beach County history was for $95 million in 2008, when Donald Trump sold the 6.3-acre Maison de L’Amitie estate at 515 County Road to Russian billionaire Dmitry Rybovlev. Since then, Rybolovlev has demolished the mansion and divided up the property into three lots, so far selling two for a combined $71 million. [WSJ] – Amanda Rabines