Buyer of Record-Breaking $150M Palm Beach Island Revealed
Who Bought $150M Palm Beach Island?
Australian investor Michael Dorrell, chairman and CEO of Stonepeak, purchased Tarpon Island in Palm Beach for a record $150 million. The private island features an 11-bedroom home with extensive amenities including a wellness wing and two private docks. Dorrell has previously invested in other high-value real estate properties.
Who is Michael Dorrell and what is his professional background?
Michael Dorrell is an Australian infrastructure investor and the chairman and CEO of Stonepeak, a New York-based infrastructure investment firm2. His professional journey includes working for the Blackstone Group's infrastructure arm, where he gained significant experience in infrastructure investments. Prior to his role at Stonepeak, Dorrell also had a career phase in Australia, which laid the groundwork for his later success in the United States. His expertise in infrastructure has positioned him as a prominent figure in the investment community, particularly in the realm of high-value real estate and infrastructure projects.
What record-breaking purchase did Michael Dorrell make in Palm Beach, Florida?
Michael Dorrell, an Australian infrastructure investor, made a record-breaking purchase of Tarpon Island in Florida's Palm Beach for $150 million2. This property, located on the town’s only private island, features 11 bedrooms, 15 bathrooms, a wellness wing complete with a massage room, a hair and nail salon, a steam room, a sauna, and a home gym26. Additionally, it includes a lighted tennis court and pavilion, two private docks, a pool, and an outdoor kitchen2. This transaction is noted for being the most expensive residential sale in Florida this year. Dorrell is the chairman and CEO of Stonepeak, a New York-based infrastructure investment firm.