Spec home developer Todd Michael Glaser and his partners Scott Robins and Jonathan Fryd paid $12.6 million for a home across the street from the ocean in Palm Beach.
The partnership plans to renovate the house at 870 South Ocean Boulevard and list it for sale in about six months, Glaser said. Property records show Invest Komfort FL LLC, led by Zdzislaw Ciomek, sold the home. Ciomek heads Euro Homes.
Suzanne Frisbie of Premier Estate Properties brokered the off-market deal, Glaser said. The home previously sold in 2016 for $8.5 million, records show. Built in 1981, the four-bedroom, 6,124-square-foot house includes a pool and cabana fronting the ocean that Glaser said will also be renovated.
Down the street, the same partnership led by Glaser paid $4.6 million for the house at 1080 South Ocean Boulevard, which they plan to knock down and replace with a new spec home.
Glaser is under contract to buy the Palm Beach house that belonged to the late financier and convicted sex offender Jeffrey Epstein, at 358 El Brillo Way. He plans to knock that property down as well and build a new mansion.
In November, Glaser, Fryd and former Miami Beach Mayor Philip Levine sold a pair of adjacent townhouses in Palm Beach to beverage tycoon Stephen Levin and his wife, Petra, for $13.7 million.
Luxury homes have been in steep demand in Palm Beach and other high-end markets in South Florida.
W. Allan Jones, the founder and CEO of Check it Into Cash, a company that provides payday advances to walk-in customers, recently paid $26.1 million for a lakefront home in Palm Beach after selling his Palm Beach mansion for $27 million.
Jewelry designer Judith Ripka recently sold her home for $12.7 million.