Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M

Glaser and his partners sold the non-waterfront home in 2019 for $16M

Todd and Kim Glaser with 125 Via Del Lago in Palm Beach (Google Maps, Illustration by Priyanka Modi for The Real Deal with Getty)
Todd and Kim Glaser with 125 Via Del Lago in Palm Beach (Google Maps, Illustration by Priyanka Modi for The Real Deal with Getty)

Spec home developer Todd Michael Glaser bought a Palm Beach mansion he previously owned and renovated with partners, and he is moving in with his family.

Glaser and his wife, Kim, paid about $23.2 million for the home at 125 Via Del Lago, property records show. An entity managed by Rhode Island attorney Bridget Mullaney sold the 9,271-square-foot, eight-bedroom house.

Todd Glaser and unnamed partners owned the home between 2017 and 2019. A Glaser-led LLC paid nearly $11 million for the property in 2017, and sold it two years later for $16.1 million.

The non-waterfront property was built in 1928 and designed by Marion Sims Wyeth on a 0.8-acre lot. Glaser and his wife renovated the house, and landscape architect Harry Nelson designed the landscaping and gardens.

“My wife renovated it back when we owned it. She did it exactly the way she wanted it,” Glaser said. “It was one of my favorite homes.”

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The property includes three fireplaces, two galleries, an elevator, sauna, wine cellar, massage and fitness room, separate guest house, poolside cabana, full house generator and a cooling tower.

Suzanne Frisbie of the Corcoran Group represented the buyer and seller. Frisbie also brokered the previous sale in 2019.

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Glaser said the house was the first home he renovated in Palm Beach. The Miami Beach builder is moving out of his Flamingo Drive home in Miami Beach, which he plans to rent out, and moving to this property in Palm Beach, where he has been more active.

Glaser’s recent deals include the $15.5 million sale in May of the non-waterfront Palm Beach home at 215 Indian Road. The buyer is a company managed by philanthropist Sandra Edgerley, who is married to Paul Edgerley, a senior adviser at Bain Capital Private Equity.

Glaser and his partners also flipped two waterfront Palm Beach homes in May for a combined $70 million, $20 million more than they paid for them last year. They sold the seven-bedroom, 6,266-square-foot house at 1320 North Lake Way for $44.4 million, and the five-bedroom, 5,558-square-foot home at 576 Island Drive for about $25.8 million. In both cases, Glaser renovated the properties.