Former Broadway Producer Terry Allen Kramer's Estate Sells For Record-Breaking $105 Million In Palm Beach
There has already been one sale topping $100 million in California this week and now there's another one to report on the other side of the country. La Follia, a 37,500-square-foot building on Palm Beach's Intracoastal Waterway just closed for a $105 million, according to property deeds cited by The Palm Beach Post.
However the amount of money that changed hands is said to be closer to $110 million once commissions and fees are accounted for. The home was owned by Terry Allen Kramer, award winning Broadway producer and heir to Charles Allen Jr. who founded the investment firm Allen & Co. She died last May at the age of 85 and the home went on the market for $135 million as part of her estate. S
he and her late husband, Irwin Kramer, oversaw the build of the home that was completed in the mid-1990s as the only "direct ocean-to-lake estate" on Palm Beach. The Atlantic Ocean sits on one side of the home while the Intercoastal Waterway is on the other.