New markets require new approaches and tactics.Experts and industry leaders take the stage Inman Connect New York Navigate market changes and prepare for the next. Meet us in the moment and join us. Register here.
The luxury fashion mogul behind the Tom Ford brand sparked a major real estate boom shortly after inking a deal to sell his empire to The Estée Lauder Companies.
Tom Ford bought the $51 million Palm Beach mansion a few months after agreeing to sell the brand as part of a $2.8 billion deal in November. new report this week’s wall street journal.
The property was sold for just under $36 million in 2021, the paper reported.
Ford purchased the home off the market and did not respond to the newspaper’s request for comment. but, journal A review of PropertyShark records shows that the property spans approximately one acre of land and contains approximately 10,000 square feet of living space.
Although the mansion is near the sea, it is not directly away from it. Reportedly located near Breakers Resort. Aerial photos obtained by the paper reveal that it is covered with rooftop solar panels and features a large outdoor pool with elaborate landscaping.
Ford’s $2.8 billion acquisition of the brand maximum In the history of Estee Lauder, Associated Press Reported in November. Following regulatory review, the transaction was expected to close in the first half of 2023.
Ford, founder and CEO of Tom Ford International, is expected to remain the brand’s creative visionary through the end of the year.
The deal should close just over a year after Ford sold its much larger New Mexico ranch for $48 million. His 20,000 acres of desert land have been used to film several movies. silveradoIt included a main concrete house with floor-to-ceiling glass windows, a reflective pool, tennis courts, extensive stables, and a riding range.
Email Daniel Houston