Kevin Douglas, a telecommunications investor and IMAX board member, sold his oceanfront mansion in Palm Beach for $37.1 million, according to records from Mar. 27.
The sale is part of a series of high-value real estate transactions taking place during the busy season in Palm Beach. The property at 870 South Ocean Boulevard was purchased by a Delaware entity named after the address, with the true buyer not publicly disclosed.
Christian Angle of Christian Angle Real Estate represented both sides in the deal. Douglas has made his fortune through early investments in telecommunications via his firm Douglas Telecommunications and has served on IMAX’s board since 2016. He also chairs Quantum Fuel Systems based in Lake Forest, California.
The house was previously owned by Todd Glaser and partners, who bought it for $12.6 million in January 2021 before selling it to Kevin and Michelle Douglas for $28.5 million six months later. Built on a 0.4-acre lot in 1987, the home features six bedrooms, seven bathrooms, two half-bathrooms, and two pools within its 6,100 square feet.
The Douglases listed the property for $43.9 million last November according to Zillow data; its recent sale marks a significant appreciation since Glaser’s purchase five years ago.
Other notable deals this month include the family of McDonald’s executive George Cohon selling waterfront land for $27.3 million and Fordham University trustee Kim Bepler buying an historic lakefront home for $30 million.
