An oceanfront mansion that once belonged to Broadway producer Terry Allen Kramer has been put on contract to sell for more than $100million, making it the most expensive single-home sale in Palm Beach.
And the buyer will have some some high-profile neighbors, being just half a mile from President Donald Trump’s ‘Winter White House’ estate at Mar-a-Lago.
The sale is expected to be a trade deal between $110million and $120million. The hefty price tag would beat the current record – the $95million which Russian billionaire Dmitry Rybolovlev spent on another Donald Trump mansion to in 2008.
Kramer paid $4million for the property in 1993, building the mansion on the land in 1995. Known as La Follia, the compound first hit the market in October 2018 for $135million.
The ‘Kinky Boots’ producer died in May at the age of 85.
The listing is being handled by five agents from Douglas Elliman Real Estate: Gary Pohrer, Ashley McIntosh, Lisa Wilkinson, Cara McClure and Adam McPherson.
Lawrence Moens of Lawrence A. Moens Associates Inc. is representing the buyer, the Real Deal reports.
Just before her death, Kramer is said to have rejected an offer from Casino magnate Steve Wynn.
The vast property covers five acres and comprised of 37,516 square feet and has a staggering 13 bedrooms in total – with the master bedroom being 4,500 square ft.
The master suite is marvelous. It comes with his and hers bathrooms along with dual dressings rooms and even an office space.
Even La Follia’s staff get six of the many rooms in the house and those come with their own six bathrooms.
Located right on the ocean, the lot that the compound sits covers more than 2.61 acres and has approximately 210 ft of beachfront.
Another lakeside parcel adds an additional 2.11 acres to the property at 1295 S. Ocean Blvd.
It is the only property that stretches all the way to the Intracoastal Waterway.
The abode includes a two-story entrance foyer that is accompanied by 25-ft ceilings. There are an assortment of living areas adorned with tri-colored marble floors and other intricate details.
La Follia also has a gentleman’s club room accessorized with red leather bar stools. There is a conservatory-style breakfast room that has gargantuan windows looking out onto the water.
Other amenities also include a fitness center, movie theater and three wine cellars.
Outside, the home features a gate with large elephant sculptures. The property has a five-car garage and even a boating dock.
A pool cabana and terrace garden also get ample sunlight.
Terry Allen Kramer has produced a number of Broadway shows, including the 2017 revival of ‘Hello, Dolly’ starring Bette Midler, ‘Finding Neverland’ and ‘On Your Feet.’
