Published by The Real Deal South Florida, March 12, 2021
The former Palm Beach home of convicted sex offender Jeffrey Epstein sold to developer Todd Michael Glaser for $18.5 million.
The closing follows news that Epstein’s former Upper East Side home also sold for $51 million. Epstein was accused of sexually abusing dozens of young girls in both homes. He died in his Metropolitan Correctional Center jail cell in New York in August 2019.
Spec home developer Glaser had been in contract to buy the home at 358 El Brillo Way for months. He plans to demolish the waterfront house in mid-April, and is working on designs for the property, he said. Following the record sale of 535 North County Road in Palm Beach — which he did not build but which sold for more than $120 million in February — Glaser said he will design a Jetsons-esque, mid-century modern mansion.
Glaser financed his purchase with a $13 million loan from Jonathan Fryd, he said.
Kerry Warwick of the Corcoran Group represented the seller. It was listed in July for $22 million. The proceeds from the sale of both Palm Beach and New York properties will go to Epstein’s victims and creditors.
Epstein paid $2.5 million for the Palm Beach property in 1990, records show. The six-bedroom, 14,000-square-foot house was designed by architect John Volk.
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