The unknown, and deep-pocketed, buyer of Palm Beach’s only private island has been unmasked.
According to people familiar with the situation, the individual who shelled out $150 million for Florida’s Tarpon Island is an Australian infrastructure investor named Michael Dorrell, as first reported by the Wall Street Journal.
The sky-high sale of 10 Tarpon Isle, the posh town’s only private island, was officially recorded last Friday and set a new record for lakefront properties in the area, The Post previously reported. (It actually sold at a significant discount, having been most recently listed for $187.5 million, making it the most expensive home ever marketed in Palm Beach’s MLS.)
Even before Dorrell’s identity was revealed, it was rumored that he had already begun living at the approximately 2-acre property’s 29,000-square-foot mansion.
Currently, Dorrell is the chairman and CEO of Stonepeak, an infrastructure investment firm based in New York. Previously, he was Blackstone Group’s infrastructure arm’s senior managing director.
The Oz-born buyer has previously made headlines for other eye-wateringly expensive real estate purchases, including spending $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.
Dorrell’s newest home includes 1,163 feet of waterfront, a lighted tennis court, a tennis pavilion, two private docks, a pool and an outdoor kitchen.
The elevator-equipped compound also has 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, there’s a five-car air-conditioned garage with two Tesla chargers.
The island is accessible by boat or bridge, which developer Todd Michael Glaser — who purchased the island for $85 million in 2021, then renovated and built out the main manse — emphasized in a December interview with the Palm Beach Daily News.
“It has its own bridge. How many houses in Palm Beach have a bridge? None,” he told the outlet.
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