Tommy Hilfiger Flips Houses

An entity linked to Hilfiger’s T Investment Company purchased the Palm Beach property for $36.9 million in January. Less than three weeks later, the home was listed for $48 million.

Tommy Hilfiger has clinched another multi-million-dollar property deal in South Florida. The famed fashion designer flipped a Mediterranean-style mansion in Palm Beach for roughly $41.4 million, pocketing a profit of about $4.5 million.

Tommy Hilfiger and Dee Hilfiger at F1 Miami in May. Formula 1 via Getty Images

An entity linked to Hilfiger’s T Investment Company purchased the 7,265-square-foot property at 930 S Ocean Blvd. for $36.9 million in January. It was bought from an LLC linked to luxury real estate agent Lawrence Moens, property records show. The transaction was first reported by Palm Beach Daily News.

Less than three weeks later, the five-bedroom, 6.5-bathroom property was listed for $48 million—$11.1 million more than Hilfiger paid for it. After 125 days on the market, it was sold slightly under its asking price at $41.4 million on June 1. The buyer is unknown.

The property notably sold for $17.88 million in March of 2021, according to records from PropertyShark, meaning it has nearly tripled in price in less than two years. 

This is no accident. Though better known for his jeans and classic apparel, Hilfiger is a seasoned real estate investor in the panhandle state.

Last March, he flipped a Palm Beach house to Fox News host Bret Baier for $12 million, as reported by The Real Deal. Hilfiger and his wife Dee Ocleppo own multiple homes in the area, including their main residence in Golden Beach, Florida.

While it’s unclear what renovations were done to increase the value of 930 S Ocean Blvd. by so much in a short period of time, the home holds a romantic charm that has clearly disarmed the right buyer.

The oceanfront estate known as Casa Florence was designed by Maurice Fatio in 1927 and is one of seven landmark homes on the street dreamed up by the famed Palm Beach architect. The home was constructed with quarried keystone to complement other impressive homes in the area that used the same material, including Casa Eleda, the palatial residence just next door at 920 S Ocean Blvd.

What Casa Florence lacks in size compared to its neighbor, however, it makes up for in the details.

Upon entering the two-story home, visitors pass beneath a Romanesque arch, featuring a Fresco painting of an angel flying above, before entering the principal rooms. A wrought-iron staircase and dramatic arched doorways bring the same South Florida charm as the barrel-tile roof tiles and towering hedges ensconcing the property.

Among the property’s many unique features is the sitting room’s octagonal coffered ceiling with turquoise detailing, as well as the vast underground wine cellar.

Fatio’s wife, the New York socialite Eleanor Chase, wanted a softer look than the dark-paneled Spanish style of the time, according to the Preservation Foundation of Palm Beach. Her influence likely helped inspire the home’s bright interiors, attention to light, and use of light-colored marble and hardwood throughout the home.

Casa Florence has retained most of the same elements from its construction in the 1920s, including unique coffered ceilings, floor-to-ceiling wood paneling, and coral stone tiles. The property also includes perks such as a pool house that doubles as guest quarters, an elevator, and deeded beach rights.

Much of the space is designed with outdoor gatherings in mind, per Fatio’s signature style. This is reflected by the loggia porch, which at 33 feet long matches the size of the living room and features the same wood-beamed ceilings that can be found throughout the house. A stone-tiled pool acts as the centerpiece of the backyard, lined by tropical ferns and flowers. Just beyond, the ocean peeks out from behind the palms.

Tommy Hilfiger Flips Houses