$60M non-waterfront Palm Beach estate one of the priciest ever sold

130 Banyan Road Palm Beach Redfin and Getty Images

The mansion on Banyan Road was gut-renovated by homeowner and interior designer Victoria Hagan before being sold off-market to an unknown buyer.

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Interior designer Victoria Hagan and her husband, media investor Michael Berman, have sold a Palm Beach estate off-market for $60.4 million, marking one of the most expensive sales ever of a non-waterfront property in the elite South Florida enclave, Palm Beach Daily News reported last week.

The couple’s 130 Banyan LLC, managed by attorney Maura Ziska, sold the estate at 130 Banyan Road to the Banyan Road Trust, managed by attorney Steven M. Loeb, according to records. The buyer’s identity remains hidden.

Brown Harris Stevens represented both sides of the transaction, with the firm’s Liza Pulitzer and Whitney McGurk representing Hagan and Berman and Blair Kirwan representing the buyer.

Hagan and Berman purchased the property in 2020 for $11.1 million.

After purchasing the roughly 9,700-square-foot mansion four years ago, Hagan and her design team went to work gutting the 1926-built property, which has five bedrooms, seven bathrooms, one half-bathroom, a pool and a tennis court, records show.

“Everyone looked at the home as a teardown,” McGurk told The Real Deal. “Victoria was the only one that really saw the vision of what it could be.”

Hagan and Berman had used the property seasonally and own other properties in Palm Beach, McGurk said.

The estate borders those owned by a number of notable residents in the area, including Rhône Group founder Robert Agostinelli; Bill Koch’s ex-wife, Joan Granlund; and author James Patterson, according to property records.

The $60 million-plus transaction surpasses previous non-waterfront, eye-popping deals made by Tom Ford in the last two years: a $51 million purchase at Jungle Road in 2022 and his subsequent home swap with the Palm Beach-based Sterling Organization’s Brian Kosoy, a deal that was estimated to be worth upwards of $100 million combined for the two properties the homeowners traded.

The Palm Beach luxury market has found its stride in recent months, with a $188 million mansion on its own private island going under contract in March and a one-acre vacant lot with about 225 feet of beachfront selling for $85 million in April.

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