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Palm Beach homes: Michael Kors CEO pays $21 million for re-done house sold last year for $13 million

Posted On: 11-23-2018

A landmarked house in Palm Beach that sold on the lake for about $13 million a little more than a year ago and has changed hands again — after a major renovation — for about $8 million more.

Seasonal Palm Beacher John D. Idol — chairman and CEO of the Michael Kors luxury fashion brand — paid $21.16 million for the house at 822 S. County Road, according to the deed recorded this week. Idol, who is identified on the deed as a married man, also owns a penthouse in the Palm Beach Biltmore, property records show.

The seller on South County Road was a limited liability company associated with real estate broker Lawrence Moens of Lawrence A. Moens Associates. Moens is listed as a co-owner of the property in the local multiple listing service.

Moens and Idol couldn’t be reached.

The five-bedroom house changed hands with a two-bedroom guesthouse and a pair of swimming pools — one for the main house and the other for guests. The property measures nearly an acre with 100 feet of frontage on the Lake Worth Lagoon. It lies just south of the point where southbound South County Road curves to join South Ocean Boulevard.

With brick-and-frame construction, the Georgian-style house was completed in 1940 and designed by Treanor & Fatio, the firm of noted society architect Maurice Fatio. The town granted the exterior landmark protection in 1985, and the designation was modified in 1990.

In all, the house and guesthouse have 12,671 square feet of living space, inside and out, according to Moens’ listing. He listed property for sale Oct. 16 at $23.9 million, according to the Palm Beach Board of Realtors MLS.

 

 

Source: Darrell Hofheinz, November 23, 2018, Palm Beach Daily News

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