Sidney Kimmel's contemporary Palm Beach mansion is under contract for what is said to be more than $75 million, putting the deal close to the asking price of $81.5 million.

According to one broker, the oceanfront property wasn't big enough to go around, drawing as many as 20 qualified prospects and numerous bidders in recent weeks.

Cristina Condon of Sotheby's International Realty represented the buyer but said she can't divulge the name.

"The buyer of the estate wishes to remain confidential, and the name cannot be disclosed," said Paulette Koch, of The Corcoran Group.

The buyer was the second to make an offer, Koch said, adding that she received a third offer during negotiations. Other prospects submitted back-up contracts during the inspection period.

Koch and her son, Dana, marketed the property, although they did not enter it into the Palm Beach Multiple Listing Service.

There are two views on whether the sale would eclipse the town record for residential real estate set in November 2004, when Revlon's Ron Perelman sold Casa Apava for $70 million to NVR Inc. Chairman Dwight Schar.

Soon after buying Perelman's landmarked mansion, Schar bought two vacant parcels across the street, also from Perelman, for $22 million. Broker Lawrence Moens handled both sides of the multi-contract deal involving properties that were part of the same original plat.

Schar's purchases totaled $92 million, setting a national record and turning heads in the industry because the deals were private.

"If you're talking about what one person spent, (the record) would have to be $92 million for Casa Apava," said Condon, who has represented either buyer or seller on many of the largest deals on the island.

The Kimmel mansion at 1236 S. Ocean Blvd. was designed by architect Thierry W. Despont.

Kimmel, a philanthropist and movie producer, is chairman and director of Jones Apparel Group, part owner of NBA team Miami Heat, and a partner in Cipriani International, with restaurant and catering locations in New York, Venice and Buenos Aires.

Koch said interested parties included celebrities, sports figures and team owners, wealthy Europeans, a Saudi prince, hedge fund experts, Fortune 500 CEOs "and other captains of industry."

Neighbors along Billionaires Row include Netscape founder Jim Clark, rocker Rod Stewart, Tampa Bay Buccaneers and Manchester United owner Malcolm Glazer, producer and Wall Street expert Terry Allen Kramer, and Matrix Essentials founder Sydell Miller.