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.
Read more
Commercial
South Florida
Todd Glaser flips office dev site to Palm Beach Jewish Center
Residential
South Florida
Palm Beach board rejects “alien” design of mansion for former Epstein property
Epstein also owned an Upper East Side townhouse that sold in March for $51 million.