Penthouse on Tiffany's building in Palm Beach sells for a staggering $18M

An unfinished penthouse on top of the Tiffany's building in Palm Beach, Fla., has sold for $18 million just five months after it was originally listed for $24 million. 

The five- to six-bedroom residence comes with a rooftop terrace that includes a private putting green, a lounge area, outdoor bar, and an infinity-edge pool.

Inside, the apartment features a main bedroom suite, a housekeeper's room, and three fireplaces. The penthouse also includes an elevator. 

The unidentified new owners will have to put on their construction hats, however, as the real estate developer Todd Michael Glaser said he estimates the unit will cost $4 million to $5 million to complete. 

An unfinished penthouse on top of the Tiffany's building in Palm Beach, Fla., has sold for $18 million just five months after it was originally listed for $24 million

The five- to six-bedroom residence comes with a rooftop terrace that includes a private putting green, a lounge area, outdoor bar, and an infinity-edge pool

Inside, the apartment features a main bedroom suite, a housekeeper's room, and three fireplaces. The penthouse also includes an elevator

At 13,000 square feet - of which 9,876 square feet is interior space - the impressive penthouse stands at the corner of Worth and Hibiscus avenues. 

According to the brokers, who originally listed the property in November, the penthouse is the only Tiffany & Co. building in the world to have a residence atop it. 

It's also the only residence in the building.  

The sellers had first listed the place for $24 million but recently dropped the listing to $19.98 as they were determined to sell. 

Glaser told the Wall Street Journal that construction on the interior is slated to begin on May 1 and they wanted to have the property sold before then. 

The real estate developer purchased the property in 2022 for $15.5 million.   

'It's a clean slate, like a loft, on one of the most exclusive streets in the world, with up to six bedrooms and a terrace overlooking all of Worth Avenue,' broker Jill Eber, of Coldwell Banker Realty, told Gimme Shelter in 2022. 

'There's nothing quite like it,' added Jill Hertzberg, also of Coldwell Banker Realty.

At 13,000 square feet - of which 9,876 square feet is interior space - stands at the corner of Worth and Hibiscus avenues

'It's a clean slate, like a loft, on one of the most exclusive streets in the world, with up to six bedrooms and a terrace overlooking all of Worth Avenue,' said broker Jill Eber in 2022 

The penthouse was originally developed by John C. Kean with Fortress Investment Group and Hyde Retail Partners.

That group purchased the building for $20 million in 2018.

The buyer's name has not been released at this time.   

Christian J. Angle of Christian Angle Real Estate represented the buyer, according to the Wall Street Journal.