John Idol, the chairman of Capri Holdings Limited, which owns Michael Kors, Versace and Jimmy Choo, sold his Palm Beach Biltmore penthouse for $9.6 million.
Records show John D. Idol sold unit C13 at 150 Bradley Place to Charles Ayres. Ayres is a managing partner and chairman of Trilantic North America, a New York-based global private equity firm.
Idol purchased Michael Kors Holdings — now called Capri Holdings — for $100 million in 2003, according to published reports. He was named CEO that same year and became chairman of the publicly traded company in 2011.
Idol also owns an 8,973-square-foot waterfront mansion in Palm Beach that he bought for $21.16 million in 2018.
In 2015, Idol bought the Biltmore condo from Sarvenaz Pahlavi for $7.4 million, according to records. The two-bedroom, three-bathroom penthouse totals 3,299 square feet, according to records.
The 11-story Palm Beach Biltmore was built in 1925 on the Intracoastal Waterway as the Alba Hotel. It was converted into condominiums in 1978.
Ayres joined Trilantic North America in 2009, the year it was founded. He was previously the managing director at Lehman Brothers Merchant Banking, according to Trilantic’s website.