‘Palm Seashore goes to be pleased’: Epstein pad to be razed

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An ostentatious Palm Beach estate belonging to disgraced financier Jeffrey Epstein goes to be torn down and used for its land worth.

Florida actual property developer Todd Michael Glaser has agreed to purchase the property at 358 El Brillo Method from Epstein’s property, in keeping with The Wall Street Journal. The 14,000-square-foot mansion hit the market again in July for $21.99 million, virtually a yr after Epstein’s death by suicide in a prison cell in August 2019.

Epstein had dedicated suicide whereas ready for trial on expenses of working an in depth worldwide intercourse trafficking scheme involving underage ladies. A decide and his property negotiated a victims’ compensation fund through which the sale of the properties would go to the alleged victims and any excellent tax and creditor obligations.

Epstein had purchased the Palm Seashore property in 1990 for $2.5 million. Whereas Epstein’s possessions have been faraway from the property previous to itemizing, it nonetheless contained the furnishings and quite a few private touches, together with the initials “J.E.” in raised brass letters above the entrance door.

Together with Epstein’s major residence in New York, the Palm Seashore property is the place lots of Epstein’s underage accusers mentioned the assaults occurred. After police raided it in 2005, they found telephone message books with underage ladies’ names and a highschool transcript of 1 woman within the desk of its master suite.

“Palm Seashore goes to be very pleased that it’s gone,” Glaser, who commonly works on costly spec houses and different ultra-luxury properties in Miami, instructed the WSJ. He has additionally labored to develop Miami’s One Thousand Museum tower designed by Zaha Hadid.

The Palm Seashore property was listed by Kerry Warwick of the Corcoran Group. The take care of Glaser is slated to shut in December. The developer’s plans embody tearing down the property in its entirety and changing it with an Artwork Moderne house of roughly the identical dimension.

Precise particulars on how a lot Glaser paid are being stored personal, with some sources speculating that it was someplace between $16 and $18 million — a worth that Glaser once claimed amounted to its land worth.

All through his life, Epstein amassed an property that was value a reported $636 million and included an condo in Paris, a ranch in New Mexico and a non-public island within the U.S. Virgin Islands. His essential New York house, a nine-story and 40-room townhouse steps from Central Park, was listed for $88 million this summer season and stays available on the market.

Email Veronika Bondarenko

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