Nearly a year after developer Todd Michael Glaser committed to buying the Palm Beach estate belonging to convicted pedophile Jeffrey Epstein, the lot sold to a new buyer for $25.845 million.

As reported by the Wall Street Journal, Matrix Partners partner David Skok bought the lot for more than $7 million more than Glaser paid for it he when he bought it for $18.5 million back in March.

Glaser first announced his commitment to buying the property in November 2020 and finished razing it in May 2021. He immediately listed it for $29.95 million and did not have to wait long for a buyer to materialize.

Lawrence Moens of Lawrence A. Moens Associates represented the seller, while Paul Birmingham of Sotheby’s International Realty represented the buyer.

The 14,000-square-foot mansion that used to stand at 358 El Brillo Way was purchased by Epstein in 1990 for $2.5 million. Epstein had committed suicide while waiting for trial on charges of running an extensive worldwide sex trafficking scheme involving underage girls. A judge and his estate negotiated a victims’ compensation fund in which the sale of the properties would go to the victims and any outstanding tax and creditor obligations.

Along with Epstein’s primary residence in New York, the Palm Beach estate is where many of Epstein’s accusers said the assaults occurred. After police raided it in 2005, they found phone message books with underage girls’ names and a high school transcript of one girl in the desk of its master bedroom.

After demolishing the home, Glaser initially tried to build another mansion of the same size in its place but the Palm Beach architectural review board rejected the design. Glaser eventually scrapped plans to get a design approved and simply sold the property. Known for his vulture-like development tactics, he recently relisted a private island off of Palm Beach for $120 million just two months after buying it for $85 million amid skyrocketing South Florida real estate prices.

“I’d rather just buy land, sit on it for six to eight months, knock down what’s there, get it ready for somebody else and boom, I’m out,” Glaser told the WSJ.

Email Veronika Bondarenko

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription