Real estate developer Todd Michael Glaser, along with his business partners, launched four extraordinarily high-end homes collectively priced at $353 million on the market Friday in the exclusive South Florida enclave of Palm beach.
Mr. Glaser, who did not immediately respond to a request for comment, acquired the expensive real estate portfolio piecemeal between the end of 2020 and the summer of 2022 for more than $158 million, records with PropertyShark show .
The band’s trophy home is a $218 million estate that occupies the entirety of Tarpon Island, Palm Beach’s only private island, according to the listing with Christian Angle of Christian Angle Real Estate.
Mr Glaser, using a limited company, grabbed the island for $85million in 2021, records show. That same year, he bought the complex for $125 million, then raised demand to $210 million before pulling it off the market.
The property is currently “undergoing stunning renovations and additions”, with the end result including an 11-bedroom mansion, a clay tennis court, a south-facing swimming pool with a hot tub and cold plunge, and a spa interior with a massage room, hairdresser, hammam and sauna, according to the list.
About a mile south, the second of the deals is a megamansion on the market for $79 million with plans in place and approved to double the size of the home.
Formerly the home of Tampa Bay Buccaneers co-owner Darcie Glazer Kassewitz, Mr. Glaser bought the lavish property in February for $53 million.
“If you’re lucky enough to shop in this area, I don’t know of a better property available,” said listing agent Suzanne Frisbie of Corcoran.
The planned addition spans the south side of the property and would expand its footprint “from 11,400 square feet to a home over 21,000 square feet,” she said. “There are a lot of unknowns that they eliminated.”
Ms. Frisbie began working with Mr. Glaser and his group just 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 find themselves. They can see a value that is not always obvious.
The third home to hit the market on Friday is a Mediterranean-style villa under construction asking $32 million. Mr. Glaser paid $4.6 million for the underlying property in 2020, records show. It’s on the market with Dana Koch and Paulette Koch of Corcoran.
The fourth and final property among the bids is a duplex penthouse atop the Tiffany Building on the city’s Worth Avenue, asking for $24 million.
“The possibilities for this residence are limitless for the right luxury buyer, as the property is delivered by a designer ready to cater to individual tastes. It’s a blank canvas to create the perfect home,” said Jill Hertzberg of The Jills Group. Zeder in a press release Chris Leavitt of Douglas Elliman’s Leavitt McIntosh team co-lists the apartment, which Mr Glaser bought for $15.5 million in June.
Palm Beach has just emerged from a third quarter that saw a slump in the number of luxury homes changing hands, due to inventory levels that were half of pre-pandemic levels, Douglas data shows. Elliman.
“The scarcity of available products is historically low, but the desire to be here is high,” Ms Frisbie said. “If you have something spectacular to bring to market and it’s well positioned, now is the perfect time.”
Bloomberg broke the news for the first time.