Todd Glaser, partners buy waterfront Palm Beach home to renovate, flip

Glaser’s new business plan is to renovate and flip homes in Palm Beach

Miami /
Apr.April 28, 2021 01:30 PM
Todd Glaser with 576 Island Drive (Google Maps, Todd Glaser)

Todd Glaser with 576 Island Drive (Google Maps, Todd Glaser)

Luxury spec homebuilder Todd Michael Glaser bought another Palm Beach house he plans to renovate and flip to take advantage of the frenzied luxury market on the tony island.

Glaser and his partners, Scott Robins and Jonathan Fryd, paid $16.4 million for the waterfront five-bedroom, five-and-a-half bathroom home at 576 Island Drive, he said. The property adds to Glaser’s growing portfolio of homes he is renovating in Palm Beach, instead of building spec homes from scratch.

Glaser said he’ll complete and list the renovated house by October to take advantage of the gap in inventory. The 7,073-square-foot home, built in 1968, sits on a 0.4-acre lot with a pool and dock. After a roughly $2 million renovation, the investors plan to list it for $28 million.

Property records show Christine Fisher-Grow, granddaughter of one of the founders of Fisher Body Corporation, sold the house. General Motors Corporation completed its acquisition of Fisher Body in 1926, according to published reports.

Lawrence Moens of Lawrence A. Moens Associates represented the seller, and Brown Harris Stevens agents Whitney McGurk and Liza Pulitzer represented the Glaser-led partnership.

Fisher-Grow paid nearly $5 million for the home in 2004, records show.

Glaser is also renovating three Palm Beach homes that could be completed in time for the high season later this year, he said. They include 215 Indian Road, which will be marketed for $14.4 million; and 870 South Ocean Boulevard, which will be asking $32 million once completed.

Glaser recently sold the completed house at 259 Pendleton Avenue in Palm Beach for $17.5 million. Within days of buying it, the new owners listed it with Brown Harris Stevens’ Margit Brandt for nearly $24 million, or 37 percent more.

Glaser is also building a new spec house on the Palm Beach property previously owned by Jeffrey Epstein.






    Related Articles

    arrow_forward_ios
    Todd Glaser with 210 Via Del Mar
    Todd Glaser buys Palm Beach “forever home” for $24M
    Todd Glaser buys Palm Beach “forever home” for $24M
    O. Dean Jernigan and 1325 North Venetian Way, Miami Beach (Google Maps)
    Former self-storage CEO sells Venetian Islands home for $18M
    Former self-storage CEO sells Venetian Islands home for $18M
    (iStock)
    South Florida resi sales, prices jump in the first quarter
    South Florida resi sales, prices jump in the first quarter
    Gregory L. Clayman and 4750 Sanctuary Lane, Boca Raton (Linkedin, Google Maps)
    Video chat firm president buys waterfront Boca Raton home
    Video chat firm president buys waterfront Boca Raton home
    Christopher Brothers and 441 San Marco Drive in Fort Lauderdale (Maxim Group, Paterson Project Management)
    Owner of real estate brokerage sells waterfront Fort Lauderdale home for $5M
    Owner of real estate brokerage sells waterfront Fort Lauderdale home for $5M
    Thomas Moorehead and Mario Longhi with the Pinecrest home (Getty, David Hernandez/ Rews Miami for ONE Sotheby’s)
    Setting the bar: Luxury car dealer pays record price for Pinecrest home
    Setting the bar: Luxury car dealer pays record price for Pinecrest home
    Andres Isaias and Alejandro Diaz-Bazan with 6385 Pinetree Drive Circle, Miami Beach (Google Maps)
    Andian Group buys waterfront Miami Beach estate for $19M
    Andian Group buys waterfront Miami Beach estate for $19M
    Dave Portnoy with the Morningside home (Getty, 5811 North Bayshore Drive/Dora Puig)
    Barstool Sports founder revealed as buyer of record $14M waterfront home in Miami’s Morningside
    Barstool Sports founder revealed as buyer of record $14M waterfront home in Miami’s Morningside
    arrow_forward_ios

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

    Loading...