Real estate developer Todd Michael Glaser, along with his business partners, brought four extraordinarily luxurious homes to the market with a collective price of $353 million on Friday in the exclusive South Florida enclave of Palm beach.
Glaser, who did not immediately respond to a request for comment, acquired the portfolio of high-value properties piecemeal between the end of 2020 and the summer of 2022 for more than $158 million, PropertyShark records show.
The trophy home among the group is a $218 million estate that occupies the entirety of Tarpon Island, the only private island in Palm Beach, according to the listing with Christian Angle of Christian Angle Real Estate.
Glaser, through a limited liability company, took over the island for $85 million in 2021, records show. That same year, he bought the compound for $125 million and later increased the offer to $210 million before pulling it off the market.
Currently, the property is “undergoing an impressive renovation and expansion,” with the end result comprising an 11-bedroom mansion, a clay tennis court, a south-facing pool with spa and cold soak, and an indoor spa with massage room. hair salon, steam room, and sauna, the list said.
About a mile to the south, the second of the offerings is a mega mansion on the market for $79 million with plans in place and approved to double the size of the house.
An approved addition to this $79 million home would double its size.
Fernando Lima at Visualize USA
Formerly the home of Tampa Bay Buccaneers co-owner Darcie Glazer Kassewitz, Glaser bought the palatial estate in February for $53 million.
“If you’re lucky enough to be buying in this area, I don’t know of a better property available,” said Suzanne Frisbie, a Corcoran real estate agent.
The planned addition spans the property’s south side and would expand its footprint “from 11,400 square feet to a home of more than 21,000 square feet,” he said. “There are many unknowns that have been clarified.”
Mrs. Frisbie began working with Mr. Glaser and his group a little over two years ago. “What I can say with a high degree of certainty is that his group is extremely well capitalized, extremely astute, [and have] beautiful eyes for real estate and the markets in which they are located. They can see the value that is not always apparent.”
A villa under construction is on the market for $32 million.
Fernando Lima at Visualize USA
The third home to hit the market Friday is a Mediterranean-style villa under construction asking $32 million. Glaser paid $4.6 million for the underlying property in 2020, records show. She is in the market with Corcoran’s Dana Koch and Paulette Koch.
The fourth and final property among the offerings is a duplex penthouse located above the Tiffany building on the city’s Worth Avenue, on the market for $24 million with Jill Eber and Jill Hertzberg of The Jills Zeder Group, an affiliate of Coldwell Banker Realty, and Chris Leavitt. of the Leavitt McIntosh team at Douglas Elliman.
“The possibilities for this residence are limitless for the right luxury buyer, as the property’s decorator is ready to accommodate individual tastes. It is a blank canvas to create the perfect home,” Ms. Hertzberg said in a press release. Glaser bought the platform for $15.5 million in June.
A duplex penthouse at the top of the Tiffany building is asking $24 million.
Daniel Petroni
Palm Beach just finished a third quarter that saw a drop in the number of luxury homes changing hands, a result of inventory levels that were half what they were before the pandemic, according to data from Douglas Elliman.
“The shortage of available products is historically low, but the desire to be here is high,” said Ms. Frisbie. “If you have something spectacular to bring to market and it’s well positioned, the timing is excellent.”
Bloomberg first reported the news.
