One of the US’s most famous fashion figures has just spent a significant amount of money on a property in Palm Beach.
Tom Ford, the renowned fashion designer, has been revealed as the buyer for 241 Jungle Road from Rob Heyvaert, for an eye-popping sum of $51 million in an off market deal. Ford purchased the land via a trust administered by celebrity business management firm Gelfand, Rennert, & Feldman.
The record-breaking purchase of the estate by Ford comes shortly after the $2.8 billion sale of his company to Estée Lauder. This transaction represents a major event for the island, as properties costing more than $50 million have previously been exclusive to waterfront homes.
Heyvaert, the founder and managing partner of Motive Partners, a New York-based private equity fund with a focus on tech investments, purchased the property for $35.8 million in 2021.
In 2019, the Palm Beach Preservation Society awarded the estate–built in 2016 on a nearly 1-acre property–an award for excellence in design. The main mansion in this estate spans 10,200 square feet with three bedrooms, and is accompanied by a two-bedroom guest house, with a total of five bathrooms and four half-bathrooms between them. Finally, the estate also has a pool.