Designer and real estate investor Tommy Hilfiger flipped a Palm Beach house for $41.4 million, five months after buying it from one of the island’s top real estate agents.
Records show TCM1 LLC, an affiliate of Hilfiger’s New York-based T Capital Management, sold the house at 930 South Ocean Boulevard to a trust named for the address, with local attorney Maura Ziska signing as trustee. The true buyer is unknown.
Hilfiger bought the house in January from Palm Beach agent Lawrence Moens for $36.9 million. Moens, who has closed at least $1 billion in sales since the start of 2021, represented both Hilfiger and the buyer in this latest deal.
Built in 1927, the 6,500-square-foot house has five bedrooms, six bathrooms and one half-bathroom. It also has a pool, guest house, and underground wine cellar, the listing shows. The historic estate was designed by Palm Beach architect Maurice Fatio, who lived there with his wife, socialite Eleanor Chase Fatio, according to the Preservation Foundation of Palm Beach.
Moens bought the 0.4-acre home for $17.9 million in 2021, more than doubling his money in the sale to Hilfiger. Hilfiger listed the house for $48 million in February, Realtor.com shows.
The $41.4 million sale equates to $4.5 million, or 11.4 percent, price growth in the five months Hilfiger owned it.
While famous for his eponymous brand, Hilfiger is also a prolific real estate investor. He has now closed at least seven deals in the past two years in South Florida. His net worth totals $450 million, according to Masterworks.
In March of last year, he flipped a Palm Beach house to Fox News host Bret Baier for $12 million. Hilfiger and his wife, Dee Ocleppo Hilfiger, bought an oceanfront mansion on the island for $46 million and a waterfront house for $21 million in back-to-back deals in 2021.
The couple also sold an oceanfront Golden Beach estate to investor Grant Cardone for $28 million that same year.
It’s been another record-setting year for Palm Beach luxury real estate, where a steady stream of deals north of $50 million closed during the island’s busy season. Car dealer Michael Cantanucci set a price record in April, paying $170 million for an oceanfront estate in the wealthy enclave.