Joel Glazer, part owner of the NFL’s Tampa Bay Buccaneers and the British perennial champion soccer club Manchester United has sold his Palm Beach Florida home for $7.5 million, the Palm Beach Daily News has reported.
The Glazers bought the house in 2007 for $9.3 million when times were still good and so they took a loss of $1.8 million on the property. But that’s just pocket change for a man who inherited part of his billionaire father Malcolm’s fortune when the elder Glazer died a few months ago. They had originally sought $8.5 million for it when the house was first listed back in February.
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The Glazers also spent a few bucks on renovations there in 2008.
Located on roughly one acre of land at 535 S. County Road, Glazer owned the five bedroom two floor house with his wife Angela. It has seven bathrooms and a total of 7, 796 square feet. It is close to the beach, comes with a guest house, a swimming pool and was built in 1938.
The sale comes just a few weeks after the local Landmarks Preservation Commission approved the house’s demolition. This was made possible because back in 2000 the Commission unanimously voted against conferring landmark status on the 76 year old house.
So the property’s new owners, a Florida limited liability company named after its address, will be free to build something new and more modern there.
Glazer’s brother, Avram and sister in law Jill sold their nearby home for at 5 Middle Road for $12.6 million in July. That house, however, does have landmark status.
Just last month the Glazers declared that they would not sell Manchester United for at least five years.