Buyer of Record-Breaking $150M Palm Beach Island Revealed

Australian infrastructure investor named Michael Dorrell has been named as the person who bought Tarpon Island in Florida’s Palm Beach for a record-breaking $150 million, according to the Wall Street Journal . The property is the posh town’s only home on a private island and includes 11 bedrooms, 15 bathrooms and an entire wellness wing with a massage room, a hair and nail salon, a steam room, a sauna and a home gym, as well as a lighted tennis court and pavilion, two private docks, a pool and an outdoor kitchen. Dorrell is the chairman and CEO of Stonepeak, an infrastructure investment firm based in New York, and before that was working for Blackstone Group’s infrastructure arm. He also spent $34 million for a waterfront teardown in Coral Gables, Florida and $41 million for an Upper East Side townhouse he bought from billionaire David Koch’s widow, Julia Koch.

Read it at Wall Street Journal

Read more at The Daily Beast.