Ivana Trump’s former Palm Beach home is in new hands.
Fashion designer Tomas Maier and his husband, businessman Andrew Preston sold the renovated mansion at 102 Jungle Road for $72.9 million, property records show. Baloobeach, a Delaware LLC, purchased the property. Baloobeach financed the purchase with a $51 million loan from JPMorgan Chase.
Maier bought the house from Trump, the first ex-wife of former President Donald Trump, in 2014 for $16.6 million. That means it sold for more than four times its last sale eight years ago.
Ivana Trump purchased the estate two years after her divorce was finalized in 1992, records show.
The most recent buyer lists the Boca Raton address of a commercial building owned by Boca Gallery Properties, a Toronto-based entity managed by developer Rob Montemarano.
The 12,352-square-foot Palm Beach estate has nine bedrooms, nine bathrooms and one-half bathroom. It was built in 1926 on a 0.76-acre lot, and includes oceanfront land across the street. South Ocean Boulevard separates the property from the ocean.
Lawrence Moens of Lawrence A. Moens Associates brokered the off-market sale, according to the Palm Beach Daily News.
In 2019, Maier and Preston received the Robert I. Ballinger Award for their complete restoration of the Palm Beach property. Richard Sammons was the architect for the restoration, and Addison Mizner was the original architect.
Maier was hired by Tom Ford to be creative director at the Italian leather goods house Bottega Veneta in 2001. During his tenure at Bottega Veneta, which ended in 2018, the luxury brand opened flagship stores in London, Paris, Milan and New York City, and as head designer, Maier was responsible for designing the brand’s signature leather accessories, according to a 2010 profile in the New Yorker.
Luxury home sales in Palm Beach have skyrocketed throughout the pandemic. Recent deals include auto dealership magnate Terry Taylor’s $7.5 million purchase of a gut-renovated oceanfront condo and billionaire David “Duke” Reyes’ $21 million sale of his home on Chilean Avenue.
Last month, billionaire Steve Wynn flipped his home for $32 million after owning it for less than a year. He bought it for $24 million.