close
close

Designer Tom Ford’s former Palm Beach mansion is valued at $78.5 million.

Posted on by L. Dreeye
Designer Tom Ford’s former Palm Beach mansion is valued at .5 million.

Billionaire Ford bought the award-winning home at 241 Jungle Road in late 2022 and then sold it to Brian and Andrea Kosoy, who just put it on the market.

An award-winning contemporary home that billionaire fashion designer Tom Ford sold in 2023 is back on the market for $78.5 million.

Ford paid $51 million for the Estatesection home at 241 Jungle Road in December 2022 and sold it five months later in an unusual home-swap deal to private equity specialist and property manager Brian Kosoy and his wife Andrea. At the same time, the Kosois transferred ownership of a nearby estate to Ford in a private transaction. The deal was reportedly worth more than $100 million, although terms of the deal were not disclosed.

The Palm Beach Daily News was the first media outlet to report the new listing on Jungle Road.

Built in 2016, the Jungle Road home was Ford’s first purchase in Palm Beach, shortly after he sold his eponymous fashion brand to the Estée Lauder Cos., which valued it at $2.8 billion.

According to property records, the Kosoev estate has six bedrooms and consists of two one-story buildings totaling 12,914 square feet of indoor and outdoor living space. On the north side of Jungle Road is a lakefront lot of about an acre.

The single-story main residence has a clean silhouette and clean lines, separated from the similarly styled guest house by a swimming pool. Both buildings feature crisp white exteriors, flat roofs and custom 13-foot-tall French doors. The layout of the main residence revolves around an open courtyard.

The property is located about a half-mile south of Worth Avenue and about a mile north of former President Donald Trump’s Mar-a-Lago club.

The Kosois claim the property as their primary residence, according to the latest Palm Beach County property tax records. They listed the home for sale on Oct. 30 with broker Christian Angle of Christian Angle Real Estate, according to the multiple listing service.

Brian Kosoy founded and serves as Managing Director and CEO of the Sterling Organization, headquartered in West Palm Beach, and its related companies. The company invests in retail properties and other real estate assets, according to its website. Kosoy and his wife are longtime Palm Beach residents.

Engle’s sales listing describes the estate as “ideal for entertaining with expansive living spaces” that include a formal living room with fireplace, formal dining room, billiard room, library and home gym. The living room has 15 foot ceilings while the other ceilings are 14 feet high.

The listing for the sale says it also has “great outdoor seating,” including a dining patio and a fantastic loggia.

Meanwhile, the well-equipped kitchen has been designed around a huge work island. The family room, which overlooks the breakfast area and kitchen, overlooks the loggia and guest house.

The estate was built as a private home for longtime residents, home-dealing magnate James Held and Kenn Karakul, who serves on the city’s architectural commission.

In 2019, the Palm Beach Preservation Foundation awarded architect Daniel Kahan the Elizabeth L. and John H. Schuler Award, which recognizes excellence in new architecture, for his work on the Jungle Road House. Kahan, a principal at Smith and Moore Architects, shared the award with Held and Karakul.

The home was built to be extremely energy efficient and environmentally sustainable, Held told the Palm Beach Daily News when the home won the award. Among its features is an extensive solar panel system on the roof.

Engle handled both sides of a home swap involving Ford and Kosoy in May 2023 on Via Del Mar. Ford’s new home is a 1920s home known as Casa Della Porta. This house, with exterior walls made of quarried coral stone, is considered the most impressive, designed by the firm of famous architect Maurice Fatio, Treanor & Fatio.

Engle was the only broker involved in the 2022 deal when Ford bought the Jungle Road home through a trust. The seller in the deal was a company controlled by private equity specialist Rob Heyvarth. Heyvert’s company bought the home in August 2021 for a reported $35.75 million.

Ford founded his eponymous fashion brand in 2005 after stints as creative director at Gucci and Yves Saint Laurent. The line includes clothing for men and women, beauty products, eyewear and accessories. Ford has also directed feature films, including 2009’s A Single Man starring Colin Firth. Ford was nominated for an Academy Award for this film.

Ford, Kosa and Engle could not be reached for comment.

“Active” MLS listings show two other Palm Beach properties recently hit the market with higher prices than the Kosoev home. The most expensive is a $95 million proposal for a gated lakefront estate at 1460 N. Lake Way, next to Hollywood star Sylvester Stallone’s home in the far North End. Agent Margit Brandt of Premier Estate Properties represents the property.

The second most expensive property on the MLS is on the other side of town, an $88 million abandoned oceanfront home and guesthouse at 1540 S. Ocean Blvd. on a stretch of coastal road called “Billionaire’s Row” in the “Estate” section. Angle holds this list.

Another Palm Beach estate has a higher price on the MLS than these properties—$96 million—but is not on active listings.” Instead, the MLS shows this oceanfront estate at 1446 N. Ocean Blvd. I have been under contract since the end of July. Broker Lawrence Moens of Lawrence A. Moens Associates has the North End listing.

(This story has been updated to add new information.)

[email protected]

*

This is a developing story. Stay tuned.

Darrell Hofheinz is a Florida-based reporter for the USA TODAY Network who writes about Palm Beach real estate in his weekly column, “Beyond the Hedges.” He welcomes tips on property news on the island. Email [email protected], call (561) 820-3831 or tweet @PBDN_Hofheinz.