A venture capitalist paid nearly $26 million for the former Palm Beach property of convicted sex offender and financier Jeffrey Epstein, who died in a New York jail two years ago.
An entity led by spec home developer Todd Michael Glaser sold the waterfront lot at 360 El Brillo Way for $25.8 million to a trust named after the address, property records show. The Wall Street Journal reported that David Skok, a partner at Waltham, Massachusetts-based Matrix Partners, purchased the property.
Glaser’s LLC paid $18.5 million for the estate in March and later demolished the house, where Epstein was accused of sexually abusing dozens of young girls. Epstein paid $2.5 million for the six-bedroom, 14,000-square-foot mansion in 1990.
Glaser and his partners had the property on the market for nearly $30 million.
Glaser and Miami-based architect Kobi Karp appeared before the Palm Beach architectural commission this summer seeking approval for a mid-century modern spec mansion, but the board rejected the proposal.
Glaser said the buyer, whom he did not identify, hired another architect to design a new home for the property.
Glaser and his partners also are trying to sell Tarpon Island, a 2.3-acre island in Palm Beach asking $120 million as is, or $200 million as an expanded estate. The partners paid $85 million for the property in July.
Epstein also owned an Upper East Side townhouse that sold in March for $51 million.