Glenn Straub says he’ll sell or close Palm Beach Polo and Country Club

The real estate investor paid $27M for the 2,250-acre property, where two of the three golf courses have been closed

Miami /
Mar.March 31, 2019 04:00 PM

Palm Beach Polo and Country Club in Wellington.jpg

Real estate investor Glenn Straub says he will sell or close Palm Beach Polo and Country Club in Wellington.

Straub made that announcement last week at a hearing before a Wellington special magistrate while complaining that the village is “nitpicking” him over building-code compliance issues.

Wellington and Palm Beach Polo Inc., a company controlled by Straub, have sued each other in about a half dozen ongoing lawsuits.

Straub says he wants to sell Palm Beach Polo and Country Club by July or shut down its operations until he finds a new use for the property.

Straub paid $27 million for the 2,250-acre club at a government auction in 1993. He had been credited with financially reviving the property before a series of legal challenges unfolded.

Glennn Straub (Source: Casino.org)

His company Palm Beach Polo Inc. owns he clubhouse, tennis courts and golf courses at Palm Beach Polo Golf and Country Club.

The rest of the development is controlled by the Palm Beach Polo Property Owners Association. Straub has unsuccessfully urged the association to acquire the club’s amenities.

Only one of the club’s three golf courses remains open. Straub closed the  Dunes golf course last year, and the club’s north golf course has been closed for about 20 years.

In December 2017, Wellington’s village council denied a request by Straub to change the land-use designation for the golf courses at Palm Beach Polo and the Polo West neighborhood.

In January, Wellington cited Palm Beach Polo Inc. for overgrown vegetation along a driving range near the clubhouse at Palm Beach Polo Golf and Country Club.

Special Magistrate Alan Zangen imposed a fine of $150 a day, effective Feb. 22, and ordered Straub’s company to pay $485.33 to cover other obligations to Wellington. [Palm Beach Post]Mike Seemuth


Related Articles

arrow_forward_ios
Amir Korangy, Michael Shvo and Jeff Greene
Michael Shvo and Jeff Greene talk distress, opportunities in office
Michael Shvo and Jeff Greene talk distress, opportunities in office
12365 Cypress Island Way in Wellington, Ansgar Holtgers and Jim & Kristy Clark (Google Maps, Getty, Instagram/ansgar.holtgers)
Billionaire Jim Clark buys Wellington mansion for $12M
Billionaire Jim Clark buys Wellington mansion for $12M
Andreas Helgstrand with 13625 50th Street South
Helgstrand Dressage sells half of Wellington equestrian estate for $11M
Helgstrand Dressage sells half of Wellington equestrian estate for $11M
12428 Cypress Island Way (Google Maps, Getty)
Private equity boss buys Wellington spec mansion for $10M
Private equity boss buys Wellington spec mansion for $10M
Bourn's Andrew Bourns with 15173 and 15134 Natures Point Lane (Bourns Sport Horses, Getty, Google Maps)
Irish jumper sells Wellington equestrian estate for $14M
Irish jumper sells Wellington equestrian estate for $14M
Terranova’s Stephen Bittel with 93 Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Ytech's Yamal Yidios with 1500 Brickell Avenue
Ytech buys historic Brickell château, plans restoration
Ytech buys historic Brickell château, plans restoration
50 and 60 Northeast Third Street and 222 and 234 Northeast First Avenue (Google Maps)
Namdar pays $41M for downtown Miami apartment towers dev site
Namdar pays $41M for downtown Miami apartment towers dev site
arrow_forward_ios

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

Loading...