Todd Glaser, an upscale real estate developer, is moving to Palm Beach after closing a USD 23 million deal

Todd Glaser, an upscale real estate developer, is moving to Palm Beach after closing a USD 23 million deal

Todd Michael Glaser, a high-end real estate developer born and bred in Miami Beach, has finally achieved his dream and moved to Palm Beach. He purchased a mansion worth USD 23.29 million in this upscale city. The value of a square meter was USD 27,030.

The 861.3 m2 property at 125 Via Del Lago was sold by 125 VDL LLC currently managed by Bridget Mullaney and based in Providence, Rhode Island. The buyers were Todd and Kim Glaser. First Republic Bank issued them a mortgage of USD 16.25 million. Suzanne Trapani- Frisbie from Corcoran Group was the intermediary in this deal.

This house was last sold for USD 16.1 million in 2019. Glaser himself was the selling party in that transaction. The developer said it was the first time he purchased a home that he had previously owned for business reasons.

Glaser is one of the most active players in the upscale residential property market, incessantly buying, renovating, selling, and building homes from scratch.

“Living in Palm Beach has been my childhood dream,” Glaser says. “I have been coming here since 1969 as I was growing up. This city has always been one of the most inspiring places I’ve ever visited, and I was only eight years old at the time. And my opinion of it has never changed.”

Located to the west from the ocean, Glaser’s new home was built in 1928 by the architect Marion Sims Wyeth and renovated several years ago. The house features eight bedrooms, ten bathrooms, two half-bathrooms, a swimming pool, a balcony, a fireplace decked with shelly limestone, and a wine cellar.

Glaser said that the mansion’s appearance reminded him of his home in Miami Beach that he is going to lease out.

He decided to leave Miami Beach because Palm Beach is quieter, especially in summer. The city also boasts an incredibly low crime rate. According to the developer, Miami Beach is too crowded with cars and tourists.

“Palm Beach is what Miami Beach was 25 years ago,” Glaser said. “It’s nice and quiet in summer. When residents come here for the season, they are treated like royalty. The local police use cameras and drones, so in case of a major robbery they will literally raise the bridge [to the mainland].”

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