Todd Glaser, partners sell Palm Beach spec home for $11M

The developers sold the adjacent spec home in February for $9.4M

Miami /
Jul.July 07, 2020 05:30 PM
111 Atlantic Avenue with Scott Robins, Jonathan Fryd, Todd Glaser and Philip Levine (Glaser by Mary Beth Koeth)

111 Atlantic Avenue with Scott Robins, Jonathan Fryd, Todd Glaser and Philip Levine (Glaser by Mary Beth Koeth)

Todd Michael Glaser and his partners Philip Levine, Scott Robins and Jonathan Fryd sold a spec home in Palm Beach for nearly $11 million.

Justin F. McInerney, acting as trustee for the PB House Trust, paid $10.67 million for the house at 111 Atlantic Avenue, property records show. 111 Atlantic Avenue LLC, the entity controlled by Glaser and his partners, sold the house.

Glaser said the property sold for $11.4 million, a price that includes furnishings by Artefacto. It was most recently listed in June for $12.9 million, according to Realtor.com

Suzanne Frisbie of the Frisbie Group at Premier Estate Properties had the listing, Glaser said.

The 7,536-square-foot, seven-bedroom, eight-and-a-half-bath house was designed by Portuondo-Perotti Architects. Features include nine fountains, a lap pool and spa, loggias and a central courtyard, according to the listing.

Glaser, an active spec home developer in Miami Beach, turned his sights on Palm Beach in 2017.

In October 2018, Glaser and his partners bought the property at 111 Atlantic Avenue for $9 million. At the time, Glaser said they planned to spend another $7 million to build two spec houses.

In February, the partners sold the adjacent spec home at 113 Atlantic Avenue for $9.41 million to a scion of the family that founded Cumberland Farms.

The partners also developed two spec villas with a courtyard at 237 Brazilian Avenue in Palm Beach, which recently hit the market for $7.9 million each.

In June, Glaser and his wife, Kim, paid $17 million for the landmarked Palm Beach estate at 127 Dunbar Road, with plans to restore it and live there.


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