Sale of $59 million former John Kluge Palm Beach estate to benefit Columbia University

PALM BEACH, Fla. - 59 million dollars buys you more than just a house on Palm Beach. It buys a compound that is four and a third acres of lush gardens, fountains and 150 feet of oceanfront.

Realtor Paulette Koch of the Corcoran group, says "It's a one of a kind, I think people at this level cherish buying something that cannot be duplicated and this fits that bill."

Koch says the land alone is worth in the mid 40-million dollar range. Then, there are the houses which include two main residences and 3 guest or staff houses.

The estate was owned by the late billionaire entrepreneur, John Kluge. He donated it to his alma mater, Columbia University.

From the gated entrance to the breathtaking rotunda and walkways, every room in this 12 thousand square foot home has a view of the garden. From the casino room, to the master bedroom to the living and dining room.

"It gives the sense of what old Palm Beach was in its heyday," says Koch. " This home was built in 1931."

Coquina rock pathways wind through the property's topical paradise. Statues behind one of the beautiful reflecting ponds on the property represent the four seasons. Winter, Spring, Summer and Autumn. They are massive stone sculptures. But they are not included in the price of the estate.

The other main residence on the estate is the 6-thousand square foot house on the ocean. Paulette Koch says Mr. Kluge actually never lived in that house, he preferred his guests stay there.

The ocean house was designated a Palm Beach landmark in the 1990's. From it's pine panel library, exquisite fireplaces, to that expansive view of the Atlantic ocean, it is a trophy property.

"Oh it's totally a gem," says Koch. "It's warm, it affords comfort and it's for someone who will appreciate the gardens just like Mr Kluge did and enjoy their privacy."

Whoever buys the estate, and Koch is certain it will sell, they will do much more than buy an estate. They will contribute to a generous man's legacy.

Before John Kluge became a billionaire he attended Columbia University on a scholarship. He couldn't afford to go to college. So when he decided to donate his estate to his alma mater he asked the proceeds from the sale fund scholarships."

As Koch says, "He had a very definitive purpose. He wanted to leave a legacy for future generations."

Click here for more information about the sale of the former Kluge estate, or contact Paulette Koch at The Corcoran Group (561) 346-8639 


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