Former Apple CEO John Sculley and his wife Diane are purchasing a $40 million penthouse at South Flagler House, a luxury condominium project under construction in West Palm Beach. The three-bedroom unit will be located in one of two towers planned by Related Companies, which is led by chairman Steve Ross.
The Wall Street Journal reported that the Sculleys’ new residence will span 11,000 square feet and include features such as a media room and two offices. Architect Tony Ingrao has been hired to design the condo.
Previously, the couple sold their home at 1214 North Ocean Boulevard in Palm Beach for $37 million after initially listing it for $54.9 million. They had considered adding nearly 3,000 square feet to that property but decided against it due to the lengthy construction timeline. “It was going to take us three to four years to build what we wanted to build,” Diane Sculley told the Journal. “And we looked at each other, and we just didn’t have the desire.”
South Flagler House is described as the most expensive new development condo currently on the market in West Palm Beach. The project consists of two 28-story towers with a total of 105 units priced between $7.9 million and $73 million. Designed by Robert A.M. Stern Architects, amenities will include social spaces such as a private dining room, catering kitchen, wine room, game room, teen room, playroom, library and media room. Wellness facilities will feature pickleball courts, a golf simulator and a salon.
Related Companies purchased the 3.4-acre site for $194.6 million in 2023 before launching sales that year. In June of this year, Steve Ross secured $600 million in construction financing from Bank OZK for the project’s development; completion is expected in 2027.
While Related has not released official sales figures for South Flagler House, sources indicate about half of its units are already presold.
The development joins more than twelve other condominium projects underway or planned in West Palm Beach’s growing residential market pipeline exceeding 2,000 units under development across various projects.
