Kevin Douglas, a telecommunications investor and board member of IMAX, sold his oceanfront mansion in Palm Beach for $37.1 million, according to records dated Mar. 27. The property at 870 South Ocean Boulevard was purchased by a Delaware entity named after the address, with the actual buyer not publicly disclosed.
The sale took place during an active season for high-value real estate transactions in Palm Beach. Christian Angle of Christian Angle Real Estate represented both sides in the deal.
Douglas is known for early investments through his firm Douglas Telecommunications and has been on IMAX’s board since 2016. He also serves as chairman of Quantum Fuel Systems based in Lake Forest, California.
The home was previously owned by developer Todd Glaser and partners, who bought it for $12.6 million in January 2021 before selling it to Kevin and Michelle Douglas six months later for $28.5 million. Built in 1987 on a 0.4-acre lot, the house spans about 6,100 square feet with six bedrooms, seven bathrooms, two half-bathrooms, and two pools.
The Douglases listed the house last November at $43.9 million; its latest sale price represents a significant increase since Glaser’s purchase five years ago.
Other notable recent deals include the Cohon family selling waterfront land for $27.3 million and Kim Bepler purchasing a historic lakefront home for $30 million.
