Glen Nelson, the founder and CEO of Long Island real estate investment firm, The Matrix Group, has died following a car crash in Port Jefferson on Sunday afternoon.
According to a press release from the Suffolk County Police Department, Nelson was driving his 2008 Lamborghini eastbound on East Broadway at High Street when his “vehicle left the roadway and struck a pole” at 3:40 pm.
The 48-year old real estate executive, who was identified in police reports as a resident of Belle Terre on the North Shore of Long Island, was pronounced dead after being transported to Saint Charles Hospital.
His vehicle was impounded for a safety check and police are conducting an investigation.
Photos from the car crash showed extensive damage to the driver side of Nelson’s vehicle. According to a report from the Daily Mail, the accident caused a power outage that cut the electricity supply to 15 homes. Workers were said to have restored power to the houses a few hours later.
Nelson worked in the commercial and residential real estate industry for 25 years. He founded his firm in 1993, which now has a portfolio covering six million square feet of multifamily and class A office buildings.