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

Real estate developer Todd Michael Glaser, together with his company associates, released four extraordinarily higher-end residences collectively priced at $353 million onto the marketplace Friday in the special South Florida enclave of Palm Seashore. 

Mr. Glaser, who did not instantly respond to a ask for for remark, acquired the big-ticket assets portfolio piecemeal between the tail stop of 2020 and the summertime of 2022 for extra than $158 million, records with PropertyShark display.

The trophy home between the group is a $218 million estate that occupies the entirety of Tarpon Island, the only personal island in Palm Seashore, in accordance to the listing with Christian Angle of Christian Angle Serious Estate.

Mr. Glaser, using a minimal legal responsibility corporation, snapped up the island for $85 million in 2021, data show. That same 12 months, he shopped the compound around for $125 million and then upped the request to $210 million just before using it off the industry. 

The assets is at present “undergoing a breathtaking renovation and addition,” with the conclude outcome comprising an 11-bedroom mansion, a clay tennis courtroom, a south-experiencing pool with a spa and cold plunge, and an indoor spa with a therapeutic massage room, hair salon, steam home 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 put and approved to double the dimension of the residence. 

Formerly the dwelling of the Tampa Bay Buccaneers co-owner Darcie Glazer Kassewitz, Mr. Glaser procured the palatial home in February for $53 million.

“If you’re lucky more than enough to be browsing in this place, I never know of a far better assets out there,” explained listing agent Suzanne Frisbie of Corcoran. 

The planned addition stretches down the south facet of the property and would increase its footprint “from 11,400 sq. toes to a residence that’s above 21,000 sq. toes,” she mentioned. “There’s a good deal of unknowns they’ve cleared.”

Ms. Frisbie started out doing the job with Mr. Glaser and his group a tiny above two yrs ago. “What I can say with a higher degree of certainty is that his team is exceptionally very well capitalized, extremely astute, [and have] stunning eyes for authentic estate and the marketplaces they’re in. They can see price that isn’t generally conveniently obvious.”

The third property to strike the current market Friday is an below-design Mediterranean-type villa asking $32 million. Mr. Glaser paid out $4.6 million for the fundamental assets in 2020, records clearly show. It’s on the market place with Corcoran’s Dana Koch and Paulette Koch.

The fourth and remaining home among the the choices is a duplex penthouse sitting down atop the Tiffany constructing on the town’s Worth Avenue, on the marketplace for $24 million with Jill Eber and Jill Hertzberg of The Jills Zeder Team, affiliated with Coldwell Banker Realty.

“The choices for this home are limitless for the correct luxurious purchaser, as the assets arrives decorator prepared to accommodate unique preferences. It is a blank canvas to produce the ideal household,” Ms. Hertzberg stated in a news release. Chris Leavitt of The Leavitt McIntosh Staff at Douglas Elliman is co-listing the condominium, which Mr. Glaser acquired for $15.5 million in June. 

Palm Beach is clean from a third quarter that observed a slump in the selection of luxury homes changing hands, a consequence of inventory concentrations that had been half of what they ended up pre-pandemic, in accordance to details from Douglas Elliman.

“The shortage of product accessible is traditionally minimal, but the wish to be in this article is higher,” Ms. Frisbie mentioned. “If you have some thing impressive to convey to market place and it’s perfectly positioned, the timing is terrific.”
Bloomberg 1st reported the information.