Developer Todd Glaser and his partners sold a Palm Beach spec house for $21.8 million.
Records show their 1080 South Ocean LLC sold the non-waterfront house at 1080 South Ocean Boulevard to a trust named for the address, with local attorney Louis L. Hamby III signing on behalf of the buyer.
Linda Olsson of Linda R. Olsson represented the buyer. Listing agent Suzanne Frisbie of the Corcoran Group confirmed the buyer was a man from Georgia. Frisbie said he found the property online and is new to the island.
Glaser and his partners, Scott Robins and Jonathan Fryd, bought the South Ocean Boulevard property for $4.6 million in 2020. They knocked down the existing house and built a 5,700-square-foot house with five bedrooms, six bathrooms, two half-bathrooms, a game room, two bars, wine room, gym, theater, two laundry rooms and a pool, the listing shows. The partners completed the 0.4-acre home in 2023, property records show.
The group listed the house for $25 million in 2021, and upped the asking price to $32 million before bringing it back down to $24.8 million in November, Realtor.com shows.
It’s been a busy season for Glaser. He and his partners relisted Tarpon Island in Palm Beach for $187.5 million. Before Tarpon Island’s “summer break” from the market, the 23,000-square-foot mansion was listed for $218 million. He and partner Jim Randall bought the penthouse in the newly completed La Clara in West Palm Beach for $18.8 million, and are looking to flip it for $28.5 million. In July, he bought a waterfront home in Palm Beach for $21.4 million with plans to renovate it and sell it.
While many of Glaser’s projects are in Palm Beach recently, he’s still closing deals in Miami. He sold a spec estate in Indian Creek Village to David Guetta in August, right after listing it for $69 million.
He also bought himself a waterfront home in Newport Beach, California for $9 million earlier this month.