Todd Michael Glaser, who last year bought two houses in Palm Beach, paid $2.67 million for property in West Palm Beach to serve as the local office of his real estate development company.
Glaser and his wife, Kim, bought a former bank building and adjacent land at 301 Southern Boulevard, near the western end of the Southern Boulevard bridge connecting West Palm Beach to Palm Beach.
The seller is former Palm Beach resident Lee Munder, who had owned the property on Southern Boulevard since 2004 and had stored his collection of antique cars there. The old Wachovia Bank and a vocational school previously occupied the 7,769-square-foot building, which Glaser plans to renovate.
David Solomon of EWM Realty International represented Glaser in his acquisition of the Southern Boulevard property. John Jaspert, a vice president of CBRE, listed the building for sale almost a year ago and showed it to approximately 60 prospects.
A Miami Beach native, Glaser told the Palm Beach Daily News he expects a revitalization of the section of Southern Boulevard where his newly acquired property is located because the area has “the same feel as what was going on in Miami in 1988 and 1989.”
In November, a company run by Glaser paid slightly less than $11 million for Casa Vera, a landmarked house a 125 Via Del Lago in Palm Beach, and already has listed it for sale for $13.9 million.