The $22 million mansion owned by convicted sex offender Jeffrey Epstein will be demolished, The Wall Street Journal reported.
The funds from the sale of the six-bedroom, 14,000-square-foot waterfront home with a staff house and pool house will contribute to Epstein’s estate, which will serve as a compensation fund for victims of Epstein’s alleged abuse, some of which took place at the Florida residence, according to the Miami Herald.
The Palm Beach mansion – one of six luxury properties owned by Epstein, was put on the market in July and Corcoran agent Kerry Warwick confirmed it is currently in contract for purchase.
Jeffrey Epstein’s other properties are expected to hit the market as well.
Florida-based developer Todd Michael Glaser told WSJ that he purchased the Palm Beach property in a deal set to close in December. Glaser said the demolition is not because of Epstein’s ownership.
“We would have knocked it down either way,” he said.
Glaser told CNN he intends to build an Art Moderne residence that he expects to be completed in the spring of 2022. He said he plans to put it on the market for around $40 million.
Jeffrey Epstein the millionaire financier, with ties to celebrities, politicians, and royalty, was arrested in July 2019 for allegedly running a sex-trafficking enterprise between his Manhattan home and his Palm Beach estate. His death in prison came in just few weeks after arrest. Read more about Jeffrey Epstein through this link