The late billionaire John Kluge's former mansion in Palm Beach finally found a new owner after it was sold for $39 million. According to Miami Curbed, the property was bought by Esure insurance founder Peter Wood, and it was paid for $20 million less than the original asking price. The beachfront home was first listed in 2011 for $59 million.
Listing details reveal that the mansion which sits on 4.3 acres of land is located in the heart of Palm Beach's exclusive estate section. The Mediterranean Revival-style Ocean House which was designed in 1921 by society architect Addison Mizner has a total of 10 bedrooms and 11 bathrooms, and it also has a 150-foot reflecting swimming pool. It has a total of 5,500 square feet of elegant living spaces. It has a sun-filled living room which is designed with original carved stone fireplace and Cuban tile floors. There is also a library, a formal dining room and three bedrooms.
According to Christie's Real Estate, the compound comprises four separate properties which were joined together to fulfill Kluge's vision of making a park-like retreat for him and his family. Aside from the ocean house is the garden house which in the British Colonial style home.
It features an informal living room which has classic Palladian-inspired doors and windows which show the expansive courtyard and garden. There is also a formal living room and library, both with fireplaces and elegant design features.
The formal dining room is designed with stenciled beamed ceilings and French doors which open to the stunning reflecting pool, fountain and lavish garden. There are other three separate residences that provide ample private accommodations for guests or staff.
Three quarters of the expansive property was dedicated in creating impeccable lawns and luscious landscaping. It also makes it a perfect venue for gatherings and parties on a grand scale.