Former Apple CEO John Sculley and his wife Diane Sculley are under contract to purchase a $40 million penthouse at South Flagler House, a luxury condominium project currently being built in West Palm Beach. The development is located at 1355 South Flagler Drive and is being led by Related Companies chairman Steve Ross.
The couple previously sold their Palm Beach home at 1214 North Ocean Boulevard for $37 million in September, after initially listing it for $54.9 million. Diane Sculley explained that they abandoned plans to expand the oceanfront property due to the long construction timeline. “It was going to take us three to four years to build what we wanted to build,” she said. “And we looked at each other, and we just didn’t have the desire.”
Their new residence at South Flagler House will be an 11,000-square-foot unit with three bedrooms, a media room, and two offices. Architect Tony Ingrao has been hired for the design of their condo.
South Flagler House is considered the most expensive new condominium development on the market in West Palm Beach. The project consists of two towers with 28 stories and will include 105 units priced from $7.9 million up to $73 million. The towers were designed by Robert A.M. Stern Architects and will feature amenities such as private dining rooms, catering kitchens, wine rooms, game rooms, teen rooms, playrooms, libraries, media rooms, wellness facilities, pickleball courts, golf simulators, and salons.
Related Companies acquired the site for $194.6 million in 2023 before launching sales that same year. In June of this year, Steve Ross secured $600 million in construction financing from Bank OZK for the project’s completion which is expected in 2027.
Although Related has not publicly disclosed detailed sales figures for South Flagler House, sources indicate that about half of its units have already been presold.
West Palm Beach currently has more than a dozen condominium projects underway with over 2,000 residential units planned or under construction across several developments in the area.
