BitPay CEO buys SeaGlass condo on Jupiter Island

A cryptocurrency payments chief and his wife bought a condo at Jeffrey Soffer’s SeaGlass Jupiter Island for $12 million.

Records show Stephen and Lisa Pair bought unit 901 at the newly completed condominium project at 1500 Beach Road in Tequesta from the developer. Stephen Pair is the co-founder and CEO of BitPay, an Atlanta-based Bitcoin payments platform.

The 10 story, 21-unit condominium was developed in a joint venture between Soffer’s Fontainebleau Development and Perko Development Partners, a local firm led by founder Philip J. Perko. Sales launched in early 2020, led by an in-house team at Fontainebleau Development. Construction was completed in November, records show. Twenty units have closed in the past few weeks, for a total of $162 million.

Soffer bought out the owners of the previous condo on the site, the Blowing Rock Club, in 2017, and bulldozed it in 2019. In March of last year, Fontainebleau secured a $50 million construction loan from Bank OZK to finance the project.

SeaGlass’ property lies between the Atlantic Ocean and the Intracoastal Waterway, with 170 feet each of beachfront and waterfront, an oceanfront pool deck, gym, and club room, according to the developer’s website. All units include a private two-car garage, the site shows. Floorplans include three- and four-bedroom options, and span 3,700 square feet to 5,000 square feet.

Jupiter Island is a quiet, wealthy enclave that spans the coasts of Palm Beach and Martin counties. Conair heiress Babe Rizzuto paid $35 million for an oceanfront estate on the island in August. In February, a Utah real estate investor dropped $14.1 million on a waterfront teardown after false rumors went flying that Nancy Pelosi bought the property. Greg Norman, one of the greats in the golf world, sold his Jupiter Island compound for $55 million last year to the family of Victoria’s Secret billionaire Les Wexner.