Former Jeffrey Epstein Property in Palm Beach Sells for $26M - Newsroom - Rabideau Klein

Former Jeffrey Epstein Property in Palm Beach Sells for $26M

By Brian Bandell, South Florida Business Journal

“The buyer was 360 El Brillo Way, with David E. Klein as trustee.”

A Palm Beach property that was formerly home to Jeffrey Epstein, the late financial manager accused of sex trafficking, was flipped for $25.85 million.

The 0.77-acre lot at 360 El Brillo Way, formerly known as 358 El Brillo Way, was sold by 360 El Brillo LLC, managed by Miami Beach luxury homebuilder Todd Michael Glaser. The buyer was the 360 El Brillo Way Trust, with David E. Klein as trustee. The Wall Street Journal reported that the buying trust belongs to David Skok of venture capital firm Matrix Partners in San Francisco.

Lawrence Moens of Lawrence A. Moens Associates brokered the deal.

The Epstein estate sold the property for $18.5 million in March, so Glaser’s group flipped it for a nice profit in less than seven months.

Glaser tore down the home Epstein lived in and changed the address. He sought approval for a new home there, but town officials rejected the plans, Glaser said. The new owner will have to obtain town approval for a new home.

The property is located along the Intracoastal Waterway. Given the strong demand for homes in Palm Beach as more wealthy people move to the area, the value of that property sharply increased, even without having a home there.

Epstein, who acquired the home in 1990, was accused of committing sexual assault on girls there.

After Epstein pleaded guilty to soliciting prostitution from a minor in 2008, he served much of his 13-month jail sentence under house arrest in his Palm Beach mansion. The house arrest order was heavily scrutinized. It was also a point of contention by his alleged victims that Epstein didn’t face more serious charges after federal attorneys reached a non-prosecution agreement in 2007.

Federal prosecutors in New York ultimately charged Epstein with sex trafficking, and he was arrested July 6, 2019. A judge denied Epstein’s request for bail. Epstein was found dead in his jail cell of an apparent suicide Aug. 10, 2019.

Read the full story …

Previous Post
Palm Beach Lot Where Jeffrey Epstein’s House Stood Brings 26 Million
Next Post
Summer Sizzle: The Biggest Palm Beach Real Estate Sales since Last Season