Tommy Hilfiger drops $21M for waterfront Palm Beach home

Donald Dizney sold the house for just $500K under ask

Tommy and Dee Olceppo Hilfiger with 313 Dunbar Road (Getty, Google Maps)
Tommy and Dee Olceppo Hilfiger with 313 Dunbar Road (Getty, Google Maps)

If previous renovations of their properties are any indication, fashion icon Tommy Hilfiger and his handbag designer wife Dee Ocleppo Hilfiger will likely bring new life to their latest buy in Palm Beach.

The couple paid $21 million for another home on the ritzy island, weeks after selling their Golden Beach mansion.

The Hilfigers purchased the waterfront home at 313 Dunbar Road, property records show. Donald and Irene Dizney sold the three-bedroom, 5,047-square-foot house to the couple.

The Hilfigers bought the home via Villa Deniz LLC, managed by Michael Thomas Frost. The entity financed the purchase with a $14.7 million loan from JPMorgan Chase Bank.

The seller, Donald Dizney, is board chairman of United Medical Corporation. The Dizneys paid $4 million for the 0.3-acre property in 2013.

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Built in 2006, the Mediterranean-style home features a lakeside pool and putting green, columned courtyard and a concrete dock on the Intracoastal Waterway. It hit the market in December for $21.5 million.

Christian Angle with Christian Angle Real Estate represented both the Dizneys and the Hilfigers in the deal, according to Realtor.com.

The Hilfigers recently sold their oceanfront Golden Beach estate for $24 million to real estate investor and author Grant Cardone.

In March, the Hilfigers purchased a smaller home in Palm Beach for $9 million. They sold their Greenwich estate in January for $45 million.

Big ticket sales have become the norm in Palm Beach. Last month, punch time clock heir Edward G. Watkins sold his oceanfront Palm Beach estate for $95 million, marking the second most expensive sale this year on the island, after the $123 million sale of 535 North County Road to Tiger Global Management co-founder Scott Shleifer.