Todd Michael Glaser, a Florida real-estate developer, said he has signed a contract to buy a Palm Beach waterfront property from the estate of the late financier and convicted sex offender Jeffrey Epstein.
The Epstein house came on the market in July for $21.995 million.
Mr. Glaser said that the deal is slated to close in December, after which he plans to tear the property down and replace it with a 14,000-square-foot Art Moderne home. Mr. Glaser is known for building elaborate spec mansions, such as a home on Miami’s Star Island that recently sold for about $49.5 million. He was also one of the developers of the One Thousand Museum tower designed by the late Zaha Hadid in downtown Miami.
“Palm Beach is going to be very happy that it’s gone,” he said of Mr. Epstein’s home.
Mr. Glaser declined to comment on what he and his partners are paying for the house beyond stating that they received a discount. Another person close to the deal said the price was close to $18 million.