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Robert Kraft, CEO of the New England Patriots, has purchased the most expensive Palm Beach condo ever sold at $23.75 million, The Wall Street Journal reported last week.
The penthouse unit was originally listed for $26.5 million in September by the estate of Erving and Joyce Wolf was represented by Dana Koch and Paulette Koch of The Corcoran Group.
Mr. Wolf was an oil and gas executive who passed away in 2018. His wife, Joyce, died in 2022, and daughter-in-law and designer Maya Lin helped renovate the apartment. She is also designer of the Vietnam Veterans Memorial in Washington, D.C.
The Wolfs bought the penthouse with oceanfront views for $6 million in 2000.
The coveted condo is among a select number of such condo buildings located on the beach in Palm Beach, The Journal reported. The four-bedroom five-and-a-half bathroom unit spans about 5,000 square feet and includes floor-to-ceiling windows, as well as a 1,300-square-foot terrace.
With the unit’s renovations, Lin included natural wood and stone to mirror the color of the ocean, The Journal said.
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Prior to this sale, the top end of the condo market in Palm Beach was in the high teens, property records and data obtained by The Journal from appraisal firm Miller Samuel showed.
Kraft’s property portfolio of luxury homes across Palm Beach, Boston and the Hamptons includes a $43 million home he purchased in Southampton in 2021.
The average sales price of a condo in Palm Beach was up 60.8 percent year over year to $1.99 million as of the third quarter, according to a report from Douglas Elliman and Miller Samuel. Inventory was also up 86.2 percent year over year, and condos spent 43 days on market, down 32.8 percent year over year.