The same developer who took over the demolition of convicted pedophile Jeffrey Epstein’s Palm Beach property will buy a private island in the same area.
The Wall Street Journal reports that Tarpon Island, off the coast of Palm Beach, is under contract to sell it to luxury developer Todd Michael Glaser for $ 90 million. Earlier this year, Glaser bought the mansion from Epstein, who committed suicide in prison while awaiting charges related to a worldwide ring of underage girls in sex trafficking, because of its land value. The proceeds of the sale have been transferred to a victim compensation fund and the demolition work was completed earlier this month.
This week Glaser announced plans to redevelop the 2½ hectare island, which is currently only accessible via a private bridge, boat, helicopter or seaplane. This means that the size of his lonely 1930s home will almost double to 22,000 square feet with the addition of indoor and outdoor pools, a gym, a tennis pavilion, and a paddle ball court.
Tarpon Island is heavily protected from drones and other forms of photography, and not widely available on the internet – it wasn’t publicly listed and the deal took place off-market.
Glaser reportedly spent more than a year convincing current owners William and Eileen Toll to sell so he could turn it into a luxury vacation. To get there, visitors must either fly in, drive in, or drive through a private cul-de-sac with two other houses.
“Most of the people in Palm Beach don’t even know this island exists,” Glaser told the WSJ.
Jim McCann from Premier Estate Properties is handling the tolls, while Suzanne Frisbie from the same agency works with Glaser’s company. With Palm Beach known for sky-high property values and very famous residents, Glaser plans to turn it into a high-end space for the jet-setting fans to entertain.
“It’s classic old Palm Beach glamor,” said Glaser. “Imagine you’re going to a fundraiser there. You’re having a blast and tossing your check in a small bucket as you cross the bridge on your way out. “
Email Veronika Bondarenko