Luxury spec homebuilder Todd Michael Glaser flipped a Palm Beach estate that he planned to keep as his “forever home” for nearly $32 million, as waterfront properties remain in high demand in the tony town.
Cardiologist Dr. Robert Fishel purchased the landmark mansion at 210 Via Del Mar via his BeachBoyz Development LLC, records show. A company led by Glaser sold the half-acre property for $31.7 million, 33 percent more than the $23.8 million he paid for the house in May of last year.
Fishel, a clinical cardiac electrophysiologist, is the founder and president of Florida Electrophysiology Associates, based in Atlantis, a small town in Palm Beach County. He also leads the electrophysiology department at JFK Hospital in Atlantis, according to his bio.
Glaser renovated the 12,115-square-foot, nine-bedroom, seven-and-a-half-bathroom mansion, and built a pool and spa on the property. The mansion was developed in 1925 and designed by Maurice Fatio in the French Normandy style.
Lawrence Moens of Lawrence A. Moens Associates represented Glaser. Matthias Fretz of Douglas Elliman brought the buyer, according to Realtor.com.
Inventory has fallen dramatically in Palm Beach throughout the pandemic. A number of sales now occur off-market, brokers say.
Recent closings on the island include the $33 million sale of a non-waterfront mansion owned by the family office of billionaire William E. Ford, Stock Development’s $57 million sale of an oceanfront spec mansion, and a New York private equity chief’s $35.6 million purchase of a non-waterfront mansion.
Glaser has taken advantage of the hot market in both Palm Beach and Miami Beach.
In November, he flipped Billy Joel’s former Miami Beach home in eight months for $6.8 million, 36 percent more than his $5 million purchase price.
A month earlier, he sold the Palm Beach property once owned by the late convicted sex offender and financier Jeffrey Epstein for nearly $26 million. Glaser had the house demolished. He had said he planned to build a mansion on the waterfront lot, but ended up selling the land to David Skok, a partner at Waltham, Massachusetts-based Matrix Partners.