Fashion tycoon Tommy Hilfiger and his wife, Dee Ocleppo, have sold their Palm Beach, Florida, home after little more than one year of ownership in what appears to be an off-market deal.
The home has changed hands for $35 million, according to property records filed with Palm Beach County Monday, netting the couple a $1 million profit.
The pair bought the five-bedroom beachfront Mediterranean estate in April 2017 for $34 million, property records show. They used the limited liability company Villa Deniz, likely after Ms. Ocleppo’s given name, for the purchase.
It’s the same limited liability company the couple used to buy another sizable Florida property in 2013, a Golden Beach mansion for $17.25 million. That home went on to be featured in Architectural Digest alongside the couple, and was subsequently listed for sale last year with a price tag of $27.5 million. After two price cuts, the property was removed from the market in June, listing records show.
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The new owner of the 10,582-square-foot Palm Beach home shielded their identity during the sale, making the purchase using an LLC.
Mr. Hilfiger, 67, who sold his eponymous fashion company in 2006 for a reported $1.6 billion, is also trying to sell his penthouse at Manhattan’s Plaza Hotel. Initially listed for $80 million in 2013, the 12-room condo has been asking $50 million since last year.
He could not be reached for comment.
The Palm Beach Daily News first reported the sale.