Real Estate

Private Palm Beach Island To Sell For $90M In Off-Market Deal

The same developer who took on the demolition of convicted pedophile Jeffrey Epstein’s Palm Beach property is set to buy a private island in the same area.

As reported by the Wall Street Journal, Tarpon Island off the coast of Palm Beach is under contract to sell to luxury developer Todd Michael Glaser for $90 million. Earlier this year, Glaser purchased the mansion once belonging to Epstein, who committed suicide in prison while awaiting charges in connection to a worldwide sex trafficking ring  of underage girls, for its land value. The sale proceeds have been ordered to go to a victim compensation fund and demolition work finished earlier this month.

This week, Glaser announced plans to redevelop the 2½-acre island, which is currently only accessible by private bridge, boat, helicopter or seaplane. This means nearly doubling the size of its solitary 1930s-era home to 22,000 square feet by adding indoor and outdoor pools, a gym, a tennis pavilion and a paddle ball court.

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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 that he could turn it into a luxury escape. To get to it, visitors need to either fly in, sail in or drive through a private cul-de-sac with two other homes.

“Most people in Palm Beach don’t even know this island exists,” Glaser told the WSJ.

Jim McCann of Premier Estate Properties is representing the Tolls while Suzanne Frisbie of the same agency is working with Glaser’s company. As Palm Beach is known for sky-high property values and very famous residents, Glaser plans to turn it into high-end space for the jet-setting crowd to entertain.

“It’s classic old Palm Beach glamour,” Glaser said. “Imagine attending a fundraiser there. You have a fabulous time and then you throw your check in a little bucket as you go over the bridge on your way out.”

Email Veronika Bondarenko

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