New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here

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.

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.

Email Lillian Dickerson

listing agent | luxury
Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×