The most expensive listings in Palm Beach are taking summer vacation.
Spec developer Todd Glaser and his partners removed the 10 Tarpon Isle mansion from the Multiple Listing Service, palm beach daily news The report said. Glaser and his partners redeveloped the historic property and listed the private island in November for $218 million, making it the most expensive residential listing in Palm Beach and Florida.
If the island sold at or near that price, it would break the Florida residential real estate price record currently held by billionaire Oracle co-founder Larry Ellison, who spent $173 million last June Purchased a 16-acre Manalapan waterfront estate.
Tarpon Island listings are owned by Christian Angle of Christian Angle Real Estate and Chris Leavitt of Douglas Elliman.
Tarpon Isle is a man-made 2.3-acre island with a mansion built in 1930 by renowned Palm Beach architect Howard Majors. Glaser and partners, including Jim Randall, Scott Robins and Jonathan Fryd, built the tower for $85 million Tarpon Island. In 2021, the island is acquired from long-term owners William and Eileen Toll. The partners’ renovation of the property included nearly doubling the size of the mansion, from 12,000 to 23,000 square feet. They also added a second pool and a dock.
Summer vacations for ultra-luxury listings are common in Palm Beach. Wealthy buyers are turning to less humid summer homes, and real estate transactions are dwindling.
This is not the first time the property has been taken off the market. The private island was briefly delisted during construction early last year, the Palm Beach Daily News reported.
While the mansion is off the market, that doesn’t mean it can’t be sold. Palm Beach luxury real estate regularly trades via quiet off-market deals.
“I promise you, if you call the listing agent tomorrow and offer the full price, the agent is not going to say, ‘Sorry, that’s no longer on the market,’” said Palm Beach Council of Realtors president John · O. Pickett III (John O. Pickett III) told the publication.
Glaser and his partners listed Tarpon Island at the same time as three other Glaser projects in Palm Beach, some of which have already sold. Glaser and his partners listed the waterfront property at 854 South County Road for $79 million in November and $63.4 million in May. In April, Glaser, Randall and other unnamed partners sold a penthouse above the Tiffany & Co building on Worth Avenue for $18 million, 25 percent less than their asking price of $24 million.
The fourth home in the portfolio, a non-waterfront sized mansion at 1080 South Ocean Drive, is still on the market. It’s listed for $28.9 million, according to Realtor.com.
It seems that not all real estate has summer vacations.
— Kate Hinsh
