Billionaire David Tepper, founder of Appaloosa Management and owner of the Carolina Panthers, is in contract to buy a $73 million mansion in Palm Beach.
It’s unclear whether Tepper will relocate to Palm Beach, according to the Wall Street Journal, which first reported on the deal. He moved to Florida from New Jersey in 2015, prompting Garden State lawmakers to say its top tax was scaring off the wealthy. Tepper returned to New Jersey last year.
Tepper will buy the 12,000-square-foot oceanfront mansion at 905 North Ocean Boulevard, which is just north of the Palm Beach Country Club. Sellers in the off-market deal are Palm Beach residents Patrick and Lillian Carney, who built the home last year on 1.1 acres.
Tepper, who owns a condo in Miami Beach, opened a Miami Beach office in 2016.
His Palm Beach purchase would add to the huge increase in ultra high-end residential sales on the island.
On Thursday, private equity titan Scott Shleifer paid more than $120 million for the oceanfront mansion at 535 North County Road, setting a record for residential sales in Florida and marking one of the most expensive home sales in the U.S.
The nearby estate 790 South County Road recently sold for $31 million.
[WSJ] – Katherine Kallergis