Palm Beach, say hello to your new neighbor — shock jock Howard Stern!
While Stern told brokers he didn’t want to buy in Palm Beach when he and wife Beth Ostrosky started looking for South Florida real estate in March, sources tell me the hairy celebrity had a change of heart.
Real estate sources tell me Stern reportedly found his dream house on the most expensive stretch of the Town of Palm Beach‘s north side.
Only, it’s going to cost him a lot more than the $20 million-cribs he looked at in Jupiter and Palm Beach Gardens!
Stern, I’m told, has a purchase contract believed to be $52 million on 601 North County Road — an oceanfront house that was not listed for sale.
It is owned by New Hampshire textile mogul Martin Trust and his socialite wife Diane.
The Palm Beach County Property Appraiser’s office places the value of the mansion at $40.8 million, and the yearly property-tax bill is in the $500,000-range.
The Trusts, noted philanthropists, bought the place in 1986 for $4.6 million, according to property records.
Martin Trust did not reply to a request for comment left with his assistant, and Stern’s agent has not returned calls.
Stern, who’s also a judge on NBC’s America’s Got Talent, signed off on the contract to buy after former model Ostrosky came to Palm Beach solo and under the radar to look at several mansions.
She fell in love with the Trusts’ place.
It’s big, 19,800 square feet under AC. And while records do not show the number of bedrooms, it’s got 12 and a half bathrooms over two floors.
And the 59-year-old Stern won’t even have to walk up the stairs: The home is equipped with an elevator.
And a perfectly manicured croquet lawn!
The house, meanwhile, is on a part of North County Road that’s turning out to be one of the most expensive in the world, one known as “Raiders’ Row” for the high number of corporate tycoons living there.
Stern’s new place is just south of fellow radio titan Rush Limbaugh‘s $40 million-compound, and two doors north from the property that Russian fertilizer king Dmitry Rybolovlev bought from Donald Trump for $95 million in 2008.
It’s directly north of billionaire Nelson Peltz‘ house, which is believed to be worth in the $120 million-range.
Ironically, Peltz created controversy in the mid-90s by advertising his Snapple fruit drinks on Stern’s show while conventional wisdom claimed that Stern’s show was too hot for mainstream advertisers.
It turned out pretty well for both of them: Now, Stern is believed to be worth $500 million!
In April, Stern confirmed on his show Gossip Extra‘s scoop that he was looking for a place in Florida but denied it was to escape New York’s high income taxes.