Canadian banker buys portion of former Kluge estate in Palm Beach

Esure insurance founder sold the lot

Subdivided estate at the corner of El Bravo Way and South County Road and Peter Wood (Credit: Redfin and Alchetron)
Subdivided estate at the corner of El Bravo Way and South County Road and Peter Wood (Credit: Redfin and Alchetron)

Canadian banker Adrian Tauro just paid $7.35 million for a piece of the 4.3-acre estate previously owned by the late billionaire John Kluge.

Esure insurance founder Peter Wood subdivided the property into five lots, and just sold the third to Tauro, a director at Scotia Private Client Group, according to property records.

The half-acre lot at 95 Middle Road traded hands for about $350 per square foot. Kluge left the property to Columbia University, which then sold it to Wood in 2016 for $39 million. In July, Wood won town approval to subdivide the estate.

The first 20,360-square-foot lot sold in October for nearly $7 million to longtime oil-industry consolidator Thomas O’Malley. Larry Morassutti of the Toronto-based real estate firm Morassutti Group dropped $18.25 million for the second parcel at 89 Middle Road, which came with a 5,435-square-foot home.

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Christian J. Angle of Christian Angle Real Estate represented Tauro and Wood. The property hit the market in August asking $8.25 million. It sold for 10 percent less than the asking price.

Angle is also listing the remaining parcels. The lot at 599 County Road is on the market for $5.95 million and the other remaining property at 125 El Bravo Way is asking $13.9 million, according to Redfin.

Earlier this year, Tauro sold a recently built home in Palm Beach for $11.5 million.