Canadian banker buys portion of former Kluge estate in Palm Beach

Esure insurance founder sold the lot

TRD MIAMI /
May.May 11, 2018 10:30 AM
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.

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.


Related Articles

arrow_forward_ios
Doug and Karin Waggoner with the property at 137 Woodbridge Road (Credit: Google Maps and Southern Methodist University)

Former BlackRock exec pays $9M for Palm Beach house with Mar-a-Lago membership included

Former BlackRock exec pays $9M for Palm Beach house with Mar-a-Lago membership included
South Florida Resi Contracts Up in July (Credit: iStock)

South Florida resi contracts continued to rise in July

South Florida resi contracts continued to rise in July
350 Indian Road and (inset) Frank H. Kenan (Realtor, Kenan Institute)

Scion of Kenan family sells Palm Beach mansion for $8M

Scion of Kenan family sells Palm Beach mansion for $8M
113 Clarke Avenue, Peter J. Wood, Edwin Lin (Realtor.com)

Citadel hedge fund exec buys Palm Beach home for $10M

Citadel hedge fund exec buys Palm Beach home for $10M
Schuyler Tilney and 222 Ridgeview Drive (Linkedin, Sotheby's)

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house

Got the power: Energy investor and former Enron exec pay $7M for Palm Beach house
1744 South Ocean Boulevard (Credit: Google Maps and iStock)

Oceanfront Palm Beach estate trades for $51M

Oceanfront Palm Beach estate trades for $51M
Rendering of 259 Pendleton Ave. with Jonathan Fryd, Todd Glaser and Scott Robins (Glaser by Mary Beth Koeth)

Todd Glaser, partners buy Palm Beach lot to build spec home

Todd Glaser, partners buy Palm Beach lot to build spec home
920 North Lake Way, Jeffrey Marcus of Marcus Cable, and Patrick Ryan of Press Ganey (Credit: Google Maps)

Cable mogul buys waterfront Palm Beach home for $16M

Cable mogul buys waterfront Palm Beach home for $16M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...