WEST PALM BEACH, Fla. (July 10, 2019) – Gunster represented the owners in the sale of La Follia, an iconic direct ocean-to-lake private estate on Palm Beach and formerly the home of Broadway producer Terry Allen Kramer. The sale of the estate is the largest single-seller/single-buyer residential deal in Palm Beach, as well as the only recorded residential sale over $100,000,000 on the island to date. The deal closed on June 28, 2019.
Gunster shareholder Jessica Shapiro handled the transaction, which has been closely covered by national news outlets, including the Wall Street Journal, Business Insider, and The Real Deal. The property hit the market for $135,000,000 in the fall of 2018.
Shapiro joined Gunster in 2014 and represents clients in a wide range of residential and commercial transactions, including acquisitions, sales, financing and leasing. Notably, Shapiro is skilled in advising high net-worth clients on the unique aspects of luxury residential properties. She is familiar with the particularities of waterfront and oceanfront residences, as well as horse farms and luxury condominiums. Shapiro’s commercial experience covers various project types including office buildings, marinas, shopping centers, multi-family projects and hotels.
Shapiro was supported by Gunster real property paralegal Vicki Colletti who has more than 20 years of experience in all facets of commercial and residential real estate transactions, contract through closing.
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