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.


Related Articles

arrow_forward_ios
(iStock)
South Florida resi sales jump in Q4: Elliman
South Florida resi sales jump in Q4: Elliman
Billionaire hedge fund manager Dan Loeb and renderings of 6440 North Bay. (Third Point, To Better Days Development)
Billionaire hedge funder Dan Loeb buys waterfront Miami Beach estate: sources
Billionaire hedge funder Dan Loeb buys waterfront Miami Beach estate: sources
Todd Glaser with aerial view of 870 South Ocean Boulevard in Palm Beach. (Google Maps, Mary Beth Koeth)
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
Todd Glaser, partners close on Palm Beach home across from ocean for $13M
320 Island Road, Palm Beach (Google Maps)
Payday lender CEO buys Palm Beach house for $26M
Payday lender CEO buys Palm Beach house for $26M
W. Allan Jones & 326 Via Linda, Palm Beach (Wikimedia Commons, Google Maps)
Cash king sells waterfront Palm Beach home for $27M
Cash king sells waterfront Palm Beach home for $27M
535 North County Road (Palm Beach Property Appraiser)
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Oceanfront Palm Beach spec mansion hits the market, asking record $140M
Judith Ripka Berk and Ronald Berk with 273 Tangier Avenue, Palm Beach (Getty, Google Maps, iStock)
Must be a gem: Luxury jewelry designer Judith Ripka sells Palm Beach home for $13M
Must be a gem: Luxury jewelry designer Judith Ripka sells Palm Beach home for $13M
President Donald Trump with Melania Trump and Mar-a-Lago (Getty)
Florida representative wants Mar-a-Lago shut down following maskless NYE party
Florida representative wants Mar-a-Lago shut down following maskless NYE party
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...