TERRY ALLEN KRAMER, BROADWAY PRODUCER OF KINKY BOOTS AND HELLO DOLLY, HAS LISTED HER PALM BEACH ESTATE OFF MARKET FOR $135M. THE ESTATE IS LOCATED ON PALM BEACH ISLAND ON “BILLIONAIRES ROW.”
Located on South Ocean Boulevard is a narrow stretch known as “Billionaires Row,” with residents like Blackstone Chief Executive Stephen Schwarzman residing there. It is also the only estate in Palm Beach that sits directly on the ocean and stretches all the way to the Intracoastal Waterway. Spanning about 37,516 square feet on almost 5 acres, La Follia is the only direct ocean-to-lake estate, unparalleled as one of the most significant properties on the island of Palm Beach. Built 24 feet above sea level, with 210 feet of direct water frontage, this Italian Renaissance home is reminiscent of the Palm Beach’s heyday Fatio Era of the 1920s and offers staggering views of both the Atlantic Ocean and the Intracoastal Waterway.
The property echoes a feel of grandeur and glamour beginning at the entrance, marked by an opulent wrought-iron gate, decorative archway, and stately elephant sculptures, leading through a canopy of Banyan trees to the porte-cochere, and into a two-story coquina limestone entrance foyer. With thoughtful design and placement by renowned architect Jeff Smith, the main hall opens to reveal the multiple grand living areas on the first floor. Many elegant details are displayed such as tri-colored marble floors, intricate coffered paneled ceilings, and custom millwork with the indigenous and natural materials of stone and coquina to anchor the structure to the surrounding terrain.
All aspects of this spectacular waterfront compound give the home a true sense of formality and timeless appeal. The Italianate-style main residence boasts 25-foot high ceilings, light filled living spaces, substantial exterior loggias, and magnificent views of the ocean. Electronic glass panels in the arcades off the gentleman’s club room and dining room provide a true sense of indoor/outdoor living at a moment’s notice. The H-shaped estate offers symmetrical facades to maximize the 360-degree commanding views. Off the main hall, the ornate guest wings, which overlook the pool, are entered through the Mizneresque Via and offer four private suites connected by arched courtyards and bronze fountains.
Just beyond this halcyon arched walkway lies a luxury fitness center, perfectly set alongside the tranquil pool area to inspire health and wellness. The sun-drenched pool cabana, lined with the stepped terraces and lush landscaping of the descending gardens, frame the sensational views of the Intracoastal Waterway and lend a sentiment of a true Italian country villa. A small orchard of citrus, mango and banana trees hold court on a portion of the west side of the property, in addition to two acres of lush green space and a private boat dock fit for the discerning boat enthusiast. The listing agents for this property are Gary Pohrer, Ashley McIntosh, Cara McClure, Lisa Wilkinson and Adam McPherson of Douglas Elliman.