Robert Kraft kicks off new year with $23.75m Florida condo buy
The four-bedroom, 5.5-bath unit was created by architect Maya Lin, designer of the Vietnam Veterans Memorial in Washington, D.C.
Yet another Bostonian appears to have satisfied their hunger for South Florida real estate.
New England Patriots owner Robert Kraft is the new owner of a roughly 5,000-square foot condo in Palm Beach, Fla., according to Palm Beach County property records of the Dec. 28 transaction. Kraft purchased Unit 4B in the East Building of Leverett House, a condo development at 110 Sunset Ave. in Palm Beach, under the entity Leverett House PB LLC.
The Wall Street Journal was the first to report the news, including the $23.75 million sale price.
Condo association documents from December 12 included in the property records note, “Robert and Dana Kraft are the only occupants approved by the Association to occupy this Unit. No other person shall be permitted or authorized to occupy this Unit unless prior written Association approval is obtained.”
Kraft married Dr. Dana Blumberg in New York City in October.
Property records show the Palm Beach condo was previously owned by Erving Wolf, an oil and gas executive who died in 2018, and his wife Joyce, who passed away earlier this year.
Mother-and-son Paulette and Dana Koch of The Corcoran Group were the listing agents of the property, which was marketed at $26.5 million. A Palm Beach Post report from September notes the condo was the most expensive listing in the history of Palm Beach, and even the under-asking sale price is the most-expensive in that market’s history.
“This Penthouse is in the best in town location and the condo is in impeccable condition with an easy flowing floorplan,” Paulette Koch said via e-mail. “It also has the most extraordinary Atlantic Ocean views. They are far reaching with probably at least 400 to 500 feet of expansive frontage. The views are jaw dropping and the opportunity to own such a unit is rare!”
The Wolfs purchased the unit in 2000 for $6 million, according to property records.
The listing notes the four-bedroom, 5.5-bath condo was designed by architect Maya Lin — who is the daughter-in-law of the Wolfs and designer of the Vietnam Veterans Memorial in Washington, D.C. — and features high ceilings and ocean views from nearly every room.
The 21-unit Leverett House development is a full-service luxury condominium complex, and each unit comes with a poolside cabana. Buyers are attracted to Leverett House for its ocean proximity and convenience to Palm Beach shopping and restaurants, Paulette Koch added.
Photos on the listing show wood paneling and the use of stone throughout the condo, as well as an expansive kitchen, floor-to-ceiling windows, and a 1,300-square-foot terrace.
Along with the recent purchase, Kraft owns residences in Greater Boston, Palm Beach, and a $43 million home purchased last year in Southampton, N.Y.
The second-most popular out-of-state destination for Massachusetts residents looking to move is Florida, according to the Pioneer Institute for Public Policy Research. This comes as the outflow of adjusted gross income from Massachusetts to states like Florida, New Hampshire, and Maine at least doubled since 2015, according to the think tank.
“The Palm Beach market remains quite solid with steady demand from the northeast and other areas (the Midwest, California, etc.) despite real estate challenges elsewhere,” Paulette Koch wrote. “Palm Beach is relatively small — there is just so much of it and, with its inherent beauty, diverse architecture, sophisticated lifestyle and culture, ease of enjoying golf, tennis, boating and the beach all year round, it is attracting more younger families than ever. Having the tax advantages Florida offers is a viable bonus!”
Of course, even with trends showing Florida’s swelling draw to Massachusetts residents, a $23.75 million purchase is a bit on the high end for the average Bostonian looking for a home down South.
See more photos of the home below:
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