Real Estate Developer Lists $353 Million in Luxury Homes in Palm Beach, Florida

Serious estate developer Todd Michael Glaser, along with his enterprise partners, introduced four terribly large-conclude homes collectively priced at $353 million on to the sector Friday in the special South Florida enclave of Palm Beach front. 

Mr. Glaser, who did not right away react to a ask for for comment, obtained the large-ticket house portfolio piecemeal between the tail conclude of 2020 and the summer season of 2022 for much more than $158 million, information with PropertyShark present.

The trophy dwelling among the the team is a $218 million estate that occupies the entirety of Tarpon Island, the only private island in Palm Beach front, in accordance to the listing with Christian Angle of Christian Angle Real Estate.

Mr. Glaser, making use of a confined liability enterprise, snapped up the island for $85 million in 2021, information show. That exact year, he shopped the compound around for $125 million and then upped the inquire to $210 million ahead of getting it off the market. 

The home is currently “undergoing a spectacular renovation and addition,” with the conclude consequence comprising an 11-bedroom mansion, a clay tennis court docket, a south-dealing with pool with a spa and chilly plunge, and an indoor spa with a therapeutic massage home, hair salon, steam place and sauna, the listing reported. 

About a mile south, the second of the choices is a megamansion on the industry for $79 million with designs in location and authorized to double the sizing of the house. 

Previously the home of the Tampa Bay Buccaneers co-proprietor Darcie Glazer Kassewitz, Mr. Glaser procured the palatial assets in February for $53 million.

“If you are blessed ample to be browsing in this region, I really don’t know of a improved property available,” claimed listing agent Suzanne Frisbie of Corcoran. 

The planned addition stretches down the south side of the house and would extend its footprint “from 11,400 square toes to a dwelling which is above 21,000 sq. feet,” she mentioned. “There’s a lot of unknowns they’ve cleared.”

Ms. Frisbie begun performing with Mr. Glaser and his team a small around two decades back. “What I can say with a higher diploma of certainty is that his group is extremely properly capitalized, really astute, [and have] beautiful eyes for serious estate and the marketplaces they are in. They can see worth that isn’t constantly quickly apparent.”

The 3rd dwelling to hit the current market Friday is an underneath-development Mediterranean-design and style villa inquiring $32 million. Mr. Glaser compensated $4.6 million for the underlying home in 2020, records exhibit. It’s on the market place with Corcoran’s Dana Koch and Paulette Koch.

The fourth and ultimate house among the the offerings is a duplex penthouse sitting atop the Tiffany building on the town’s Well worth Avenue, on the market for $24 million with Jill Eber and Jill Hertzberg of The Jills Zeder Group, affiliated with Coldwell Banker Realty, and Chris Leavitt of The Leavitt McIntosh Crew at Douglas Elliman.

“The choices for this home are limitless for the ideal luxurious purchaser, as the assets comes decorator prepared to accommodate individual preferences. It is a blank canvas to build the excellent residence,” Ms. Hertzberg stated in a news release. Mr. Glaser purchased the pad for $15.5 million in June. 

Palm Beach is fresh new from a third quarter that observed a slump in the variety of luxury households shifting hands, a final result of inventory stages that were half of what they have been pre-pandemic, according to details from Douglas Elliman.

“The scarcity of merchandise obtainable is traditionally very low, but the wish to be right here is higher,” Ms. Frisbie stated. “If you have a thing magnificent to deliver to market and it is very well positioned, the timing is marvelous.”
Bloomberg initially noted the information.