Below-renovation residence sold for $28.5 million in Palm Seaside, deed displays

The developer whose financial commitment group in January paid nearly $13 million for a 1980s-period seaside house in Palm Beach – and then embarked on a renovation for resale — has offered the property while in construction. The price recorded at $28.5 million for the estate at 870 S. Ocean Blvd. The deal closed Friday, seller Todd Michael Glaser instructed the Palm Beach front […]

The developer whose financial commitment group in January paid nearly $13 million for a 1980s-period seaside house in Palm Beach – and then embarked on a renovation for resale — has offered the property while in construction. The price recorded at $28.5 million for the estate at 870 S. Ocean Blvd.

The deal closed Friday, seller Todd Michael Glaser instructed the Palm Beach front Everyday News.

The deed lists the consumers as California investor Kevin Douglas and his spouse, Michelle, as trustees of the K&M Rely on. The few has an tackle north of San Francisco in Kentfield, California, the deed shows.

Kevin Douglas established and is chairman of Douglas Telecommunications, a relatives investment office through which he manages the Douglas family’s diversified financial investment portfolio, in accordance to a temporary online biographical sketch. His portfolio has bundled key investments in IMAX Corp., the big-display screen movie-technological innovation and theater organization, where by he sits on the board of administrators.

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