Todd Michael Glaser Sells One-Of-A-Kind Worth Avenue Penthouse Atop Tiffany & Co. Building In Palm Beach For $18 Million

Todd Michael Glaser and partners have sold an exclusive two-story penthouse residence sitting atop the iconic Tiffany & Co. building on Palm Beach Island’s Worth Avenue for $18 million. Located at 415 Hibiscus Ave., Palm Beach, FL 33480, the total 13,000-square-foot residence is the largest condominium on Palm Beach Island. Situated at the corner of prestigious Worth Avenue and Hibiscus Avenue, it is the only penthouse in the world atop a Tiffany & Co. building. The private residence building is also a blank canvas, ideal for the luxury buyer who would like to customize every detail.

Jill Eber and Jill Hertzberg of The Jills Zeder Group, affiliated with Coldwell Banker Realty; and Chris Leavitt of Douglas Elliman Realty, LLC, represented the seller, Todd Michael Glaser and partners. Christian Angle Real Estate represented the buyer in this transaction.

Constructed in 2021, the residence is a shell with all plumbing, electrical and HVAC units in the space and is decorator and architect ready to be built out.

The penthouse was developed in 2021 by a JV between Fortress Investment Group, Hyde Retail Partners and Kean Development before selling to Glaser and his partners for $15.5 million in June 2022. The joint venture initially acquired The Tiffany & Co. building was purchased in late 2018 for $20 million before selling the commercial component for $26.4 million in January 2021 to the London-based real estate investment firm Motcomb Estates.

An extraordinary aspect of the residence is the new, private rooftop deck ― the only rooftop of its kind in Palm Beach with a panoramic view of Worth Avenue. Its distinctive exterior spa boasts an infinity edge swimming pool, sunbathing areas, putting green, outdoor bar, dining area and fire pit. The interior rooftop area beckons with a spacious lounge and full bar, billiard area, full bathroom, and gym.

Offering enormous windows and doors maximizing Worth Avenue views and natural light, the residence includes a beautiful principal suite, housekeeper’s room, three fireplaces, state-of-the-art technology, an elevator and much more, within 9,876 square feet of interior space. It may be built out to have five to six bedrooms, seven bathrooms, and one half-bathroom.

The exclusive condo is within walking distance of world-class shops, restaurants, and all the best that Palm Beach has to offer.

PROFILE Exclusive: Step Onto Todd Michael Glaser's 10 Tarpon Island, Palm Beach's Only Private Island Asking $218 Million

Palm Beach’s infamous 10 Tarpon Isle, the only opportunity to live on your own private island in Palm Beach, has been completed and is on the market for $218 million. The once in a lifetime legacy estate was developed by South Florida’s leading ultra-luxury spec home developer Todd Michael Glaser and is listed with Christian Angle of Christian Angle Real Estate and Chris Leavitt of Douglas Elliman. The one-of-a-kind Private Island with 360 degrees of water views and privacy.

The original 1930’s estate was completely redeveloped and now spans 28,618 total square feet of living space situated on the 2.2+ acre private island. 10 Tarpon Isle features 11 bedrooms and, 15 full bathrooms bathrooms and 7 powder rooms with a 5 car garage and guest house.

10 Tarpon Isle features the ultimate in luxury including a newly reimagined indoor spa features a massage room, hair salon, steam room, and sauna. There is also a beautiful library with a bar, wine refrigerator and humidor cigar display; a wine room; and an Entertainment Room with fireplace, wine refrigerator, billiards table, and movie lounge. The home fitness club quality gym features a weight room, cardio room, wet bar and fireplace.

Outdoors the estate’s extensive ground feature lush landscaping and resort style amenities with 360 degree water views. 10 Tarpon Isle features rare lighted clay tennis court with a viewing pavilion, an east facing pool, a loggia with full outdoor kitchen and fireplace as well the main 98' south facing pool with spa with pool bar and cold plunge. The island also features two separate boat docks to accommodate an array of vessels and sea toys.

Images via Todd Michael Glaser, Chris Angle Real Estate and Douglas Elliman

Check Out This Newly Renovated Coastal Contemporary In The Exclusive Point Manalapan Which Just Listed For $7.995 Million

A beautifully renovated turnkey family home on a quiet cul-de-sac street in the exclusive, gated Point Manalapan has hit the market for $7.995 million. Point Manalapan is a luxurious, secluded community just minutes from Palm Beach nestled between the Atlantic Ocean and Intracoastal Waterway. Located at 105 Churchill Way, the coastal contemporary home recently underwent a full renovation creating an idyllic luxury residence with beautifully designed interiors and lushly landscaped outdoor spaces perfect for entertaining.

A limestone driveway and landscaped courtyard welcomes you to the bright, coastal home. The spacious, open floor-plan spans 5 bedrooms and 6.5 bathrooms, with a detached guest suite spanning 8,516 SF on a half-acre lot. The residence features high ceilings, a gourmet eat-in kitchen, double-height living room, multiple balconies and outdoor spaces, an elevator and all bedrooms with en-suite bathrooms and spacious closets. The home also features the finest finishes, 4.5 car garage, impact windows and doors and can be purchased fully furnished if desired. The oversized outdoors was updated by SMI Landscaping and features a new pool. Buyers will receive a membership to La Coquille Club at The Eau which offers restaurants, an oceanfront pool, spa, exercise room and beach club.

105 Churchill Way is currently listed for $7.995 million with Adam McPherson of Douglas Elliman.

Residence At The Bristol In West Palm Beach Trades For Record $21 Million, Double Its 2019 Purchase Price

A residence at The Bristol in West Palm Beach has just closed for $21 million, double what it previously traded for in 2019 and the highest price ever paid for a single unit at the coveted residential building. Per public record, Samantha Curry with Douglas Elliman, who has sold close to $400 million at The Bristol, represented the seller. Steve Hall with Compass represented the buyer.

Unit 1901 is a rare Northeast corner residence designed by Marc Michaels features one of the building’s most sought-after floor plans mimicking a single-family home in the sky with 5,544 interior SF plus a 1,500 wraparound terrace. With chic contemporary design and the finest materials, the 4-BR plus office/ 5.1-BA showcases the most impressive panoramic views of the Ocean, Intracoastal, Palm Beach, and sparkling city lights showcased through 11-ft floor to ceiling glass surrounding the entire residence.

The residence features a stunning one-of-a-kind entertaining bar and a perfectly curated primary bedroom suite with dual bathrooms both with spectacular direct east water views, dolimiti marble, and Italian Fantini fixtures. Both of the spacious dressing rooms consist of custom closets built with the finest materials. The residences also offers a state-of-the art kitchen featuring top of the line Gaggenau appliances, Snaidero Italian cabinetry, and 100-bottle Sub Zero wine refrigerator. Additional highlights include immaculate built-ins, bespoke furnishings, an enhanced Crestron Smart Home technology with automated control of everything from lighting, shades, sheers, music, thermostat, and more.

The Bristol is located at 1100 S Flagler Driveand has succeeded in setting a new standard for ultra-luxury living in West Palm Beach. The tower is renowned for its most impressive 5-star amenities and attention to detail including on-site professional concierge, two spas, beauty salon, waterfront fitness center, 75-ft resort-style swimming pool, club lounge and dog park. Two house vehicles equipped with a driver, gated entrance, and 24-hour valet and front desk.

Images via Shawn Hood Media

Todd Michael Glaser And Partners Buy Palm Beach Penthouse Atop Tiffany & Co. On Worth Avenue For $15.5 Million

Spec home developer Todd Michael Glaser and his partners have closed on the penthouse on top of the Worth Avenue Tiffany & Co. building in Palm Beach for $15.5 million. The residence was delivered as an unfinished shell and the investors plan to complete the residence and list it at potentially $40 million. The penthouse occupies the buildings second floor and rooftop and spans 13,000+/- SF. The sellers were a JV between Fortress Investment Group, Hyde Retail Partners and Kean Development.

The original design called to offer five bedrooms, seven and a half baths, master suite, maid's quarters, three fireplaces, state of the art technology, elevator and a private rooftop overlooking panoramic views of Worth Ave. The rooftop’s distinctive exterior spa will boast an infinity edge swimming pool, sunbathing areas, putting green, outdoor bar, dining area and fire pit for the ultimate outdoor entertaining space.

The Tiffany & Co. building is located at 259 Worth Avenue and was purchased in late 2018 by the Fortress Investment Group, Hyde Retail Partners and Kean Development Joint Venture for $20 million before selling for $26.4 million in January 2021 to the London-based real estate investment firm Motcomb Estates.

West Palm Beach Condo Development Alba Palm Beach Locks Down $82 Million Construction Loan

Private real estate lender Trez Capital funded an $82 million loan to build Alba Palm Beach, a luxurious waterfront condominium project that will soon rise in West Palm Beach, Florida. The new development is located directly on the west bank of the Intracoastal Waterway in the emerging Northwood neighborhood. Alba will rise 22-stories and offers 55 luxury residences and four townhomes. Since launching sales in February 2022, more than 30% of the project has been reserved. Prices start at $2.5 million. With the loan in place, an official groundbreaking is expected this fall with a project delivery in 2025.

Trez Capital Managing Director Ben Jacobson originated the loan on behalf of the lead developer Kenneth Baboun. Jacobson is based in Trez Capital’s Palm Beach, Florida office led by Executive Managing Director, Eastern U.S. Brett Forman. BGI Capital structured the loan.

“Alba Palm Beach fills a glaring need for high-end residential product in a rapidly growing area of West Palm Beach,” said Jacobson. “We are excited to complete our first transaction with a sophisticated developer that will bring luxurious waterfront living to the city’s Northwood neighborhood.”

“We are so pleased to announce the securing of financing for Alba Palm Beach, especially with the great market response and sales success we have seen in such a short time since launching sales,” Baboun said.

“Working with the team from Trez Capital was a transparent and seamless experience and we are thrilled to have accomplished this milestone for Alba Palm Beach,” said Robert Barthelmess, Managing Partner of BGI Capital.

The spacious two-, three-, and four- bedroom residences range in size from 1,745 to 4,500-plus square feet. Each has oversized glass-framed terraces with summer kitchens and panoramic views, floor-to-ceiling hurricane impact glass windows, upscale appliances and designer fixtures.

Amenities include a private dock with boat slips for residents only, two pools, dedicated grill and lounge areas, state-of-the-art fitness studio, private elevators, virtual conference spaces, theater and multi-sport simulator rooms.

Alba Palm Beach is located at 4714 North Flagler Dr., just minutes away from world-class beaches, the famed Worth Avenue shopping district, upscale dining options and cultural activities.

“West Palm Beach has been a focal point of the substantial corporate migration to South Florida over the past few years,” said Forman. “That is creating intense demand for luxury residences in the city. Alba Palm Beach is poised to generate significant activity from both new-to-market and local buyers.”

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BGI Companies Launches Sales at Alba Palm Beach

BGI Companies has officially launched sales at Alba Palm Beach, a new waterfront residential condominium development located directly on the Intracoastal Waterway. The development is a collection of 55 luxury residences spread throughout a 22-story tower, plus four two- and three-story townhomes. Residents will enjoy a variety of desirable amenities including an entire 25,500-square-foot, sixth-floor amenity level with sunrise and sunset swimming pools, as well as on-site private docks with boat slips exclusively for owners.

In pre-sales, the development received a strong response with more than 30% of the building reserved. Introductory pricing starting from $2.5 million with sales led by Douglas Elliman Development Marketing.

“As our first foray into residential development in the Palm Beaches, we are excited to officially launch sales with a more accessible luxury product in the Northwood area as the neighborhood continues to thrive and grow,” said Kenneth Baboun, principal developer. “With a sought-after location, Alba Palm Beach will introduce a limited-edition waterfront lifestyle that celebrates high-quality workmanship, elevated amenities, and effortless coastal living – all of which are in demand yet hard to come by in today’s market.”

“West Palm Beach has experienced a material transformation and growth in the last few years. The influx of buyers and capital in the area seeking a luxury destination coupled with offering of high caliber products in West Palm Beach has presented tremendous opportunity,” said Jay Phillip Parker, CEO of Douglas Elliman’s Florida Region and President of Douglas Elliman Development Marketing. “With Alba Palm Beach, we are setting a new standard in the neighborhood, offering a waterfront lifestyle with Intracoastal access that cannot be replicated. Our team is proud to present buyers with a development that offers an exceptional value at a premier address.”

Alba Palm Beach is located at 4714 North Flagler Drive in West Palm Beach, Florida, directly on the Intracoastal Waterway. The development’s sleek and modern design is by West Palm Beach-based Spina O’Rourke + Partners. A free-form ground level with design accents that blend into the landscape welcomes residents, who will enjoy access to an elevated amenity deck, with unobstructed sunrise, sunset, and water views. The development houses a collection of 55 two- to three-bedroom residences, and 4-bedroom townhomes with direct waterfront views. There are a limited number of residences per floor, with private elevators and vestibules offering privacy and seclusion.

Alba Palm Beach is situated on 1.71-acres with direct Intracoastal frontage, and a private dock with boat slips reserved for residents only. The tower’s entire sixth floor is dedicated to amenities, including a sunrise pool overlooking the Intracoastal, a sunset pool for the warm afternoon sun, as well as dedicated grill and lounge areas. The on-property state-of-the-art fitness studio includes cardio, resistance training, and yoga. There will also be virtual conference spaces, theater, and multi-sport simulator rooms. The development also offers a covered Porte Cochere entry, valet parking, and access to covered parking with electric vehicle charging stations.

Every residence features spacious layouts with oversized glass-framed terraces with summer kitchens and panoramic views. Floor-to-ceiling hurricane impact windows and sliding doors are installed on all terraces. Additional highlights include Italian-designed kitchens by Italkraft, stainless steel appliances by SubZero® and Wolf®, spa-like baths with designer fixtures and finishes and wiring for high-speed data, media connectivity and smart-home technology. The limited collection of four townhome residences each have their own unique two- or three-story designs.

Todd Michael Glaser And Partners Launch One-Of-A-Kind Mega-Mansion 10 Tarpon Island Asking $200 Million

Todd Michael Glaser and his partners have launched a one-of-a-kind Palm Beach private island estate asking $200 million. The private island estate is located at 10 Tarpon Island, a small private island at the end of Tarpon Way in Palm Beach’s estate section. Glaser was linked to the never listed 2.27 acre property earlier this year. Glaser and his partners including Jim Randall, Scott Robins and Jonathan Fryd, eventually acquired the home for $85 million.

Glaser and his partners are planning on expanding and renovating the five bedroom home which was first built in 1939. The existing home on the property spans 12,321 SF but the redevelopment plans for a 25,000 SF mega-mansion designed by Dailey Janssen Architects with 1,300’ of linear water frontage, a 6-car garage and 2 pools. Tarpon Island was created in the 1930’s on the Lake Worth Lagoon and last sold for $7.6 million in 1998.

Todd Michael Glaser has been extremely active in South Florida’s ultra-luxury spec home market over the past several years. In Palm Beach Glaser is currently redeveloping the former estate of the late disgraced financier Jeffrey Epstein and recently sold an oceanfront estate on South Ocean Boulevard for $28.5 million. In Miami Glaser and his partners Randall, Robins and Fryd recently acquired the former estate of “Sábado Gigante” host Don Francisco for $23.8 million. He is also developing 37 Indian Creek which just launched for $55 million, 6015 North Bay Road, 163 Bal Cross, 386 Golden Beach Drive and a myriad of other ultra-luxury spec mansions and owner reps homes.

Imagery via Todd Michael Glaser

Todd Michael Glaser Sells South Ocean Boulevard Palm Beach Oceanfront Estate For $28.5 Million

Real estate developer Todd Michael Glaser has sold an oceanfront Palm Beach estate for $28.5 million. Located at 870 S Ocean in Palm Beach's coveted Estate Section, the home is currently undergoing renovations which are slated for completion in late 2021. Chad Carroll with the Carroll Group at Compass represented the buyer while Suzanne Frisbie with the Corcoran Group represented Glaser.

870 S Ocean spans 6 bedrooms and 7.5 bathrooms spread over 7,589 SF. The redevelopment is being designed by DOMO DESIGN + ARCHITECTURE and when complete the mediterranean style home will offer the most lavish luxury finishes and a spectacular beachfront cabana and pool.

Todd Michael Glaser has been extremely active in South Florida’s ultra-luxury spec home market over the past several years. In Palm Beach Glaser is currently developing 10 Tarpon Island which he recently launched for $200 million. He is also redeveloping the former estate of the late disgraced financier Jeffrey Epstein. In Miami Glaser and his partners Randall, Robins and Fryd recently acquired the former estate of “Sábado Gigante” host Don Francisco for $23.8 million. He is also developing 37 Indian Creek which just launched for $55 million, 6015 North Bay Road, 163 Bal Cross, 386 Golden Beach Drive and a myriad of other ultra-luxury spec mansions and owner reps homes.

Imagery via Suzanne Frisbie

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Joint Venture Led By Tricera Capital Acquires One Clearlake Centre Office Tower In West Palm Beach For $60.7 Million

A joint venture between Scott Sherman’s Tricera Capital, NDT Development, New England Development and Rockpoint Group have acquired the One Clearlake Centre office tower in West Palm Beach for $60.7 million. The seller was a joint venture between the Dallas-based real estate investment firm Velocis and CREC who had initially acquired the property in 2017 for $42.3 million. The property was 62% leased at the time of sale and the transaction was overseen by JLL. Tenants include Intech Investment Management, Coastal Wealth, Truist Financial, KRES Commercial, Northwestern Mutual and Day Pitney.

One Clearlake Centre was developed in 1986 on a 3-acre site at 250 South Australian Avenue. The building rises 18-stories and spans 221,079 SF of rentable space with a 669-space parking garage. One Clearlake Centre was renovated in 2019 and features tenant amenities a gym, lounge and cafe.

The West Palm Beach office market has seen quite a bit of movement recently. In January 2021 the New York-based Related Companies acquired the Phillips Point office complex in West Palm Beach for roughly $282 million and in May 2021 acquired CityPlace Tower for $175 million. In June Related Companies also acquired a 50% stake in the Esperanté Corporate Center from the New York-based RedSky Capital, the London-based JZ Capital Partners owns the remaining 50%.

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