The estate sits alone on a 2.3-acre man-made island and went under contract on Monday. The negotiated price and identity of the buyer remain unknown.
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The most expensive listing in Palm Beach, Florida, was recently quoted at $187.5 million and is currently under contract, according to the listing portal.
Developed by Todd Michael Glaser and Partners, the property at 10 Tarpon Island sits alone on a 2.3-acre man-made island and went under contract Monday.
10 Tarpon Island, Palm Beach | Image Source: Zillow
Suzanne Frisbie of the Corcoran Group and Chris Leavitt of Douglas Elliman represented the property.Margit Brandt of Premier Estate Properties reportedly represented the buyer the real deal.
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The sales price and identity of the buyer remain unknown.
Glaser, along with partners Jim Randall, Scott Robins and Jonathan Fryd, purchased the island in 2021 for $85 million. They then undertook extensive renovations and expansions, building a new mansion, a new swimming pool and landscaping. The property was listed for $210 million ahead of completion in 2021 and later re-listed for $218 million, with Levitt and top Palm Beach agent Christian Angle representing the property.
The property was taken off the market in the summer of 2023 and relisted in late November with a new price tag of $187.5 million.
10 Tarpon Island, Palm Beach | Image Source: Zillow
The mansion includes 11 bedrooms, 15 bathrooms and 1,300 feet of water frontage along the Intracoastal Waterway. The grounds include a lighted tennis court, two private docks, two swimming pools, and a loggia with an outdoor kitchen and bar. The home itself also features a salon, massage room, steam bath, gym, wine cellar and home office.
Florida’s most expensive listings are currently 9-acre estate in Naples worth $295 million The product was launched in February.
Palm Beach is known for its wealthy residents and mansions, and the South Florida enclave has seen an explosion of luxury real estate deals in recent years.
Last April, Green Mountain Coffee Roasters founder Robert Stiller and his wife, Christine Stiller, were valued at $170 million in an over-the-counter transaction The property was sold to luxury car dealer Michael Cantanucci.
10 Tarpon Island, Palm Beach | Image Source: Zillow
In nearby Manalapan, billionaire Larry Ellison purchased a $173 million oceanfront property in 2022 and holds the record for the most expensive transaction in the state.
However, sales in Palm Beach have slowed in recent months, leading to lower prices and increased inventory.Luxury listings more than doubled from this time last year, according to Douglas Elliman Palm Beach, Season 4, 2023 Report.Meanwhile, the cosmetics heirs William Lauder recently relisted two vacant Palm Beach lots After a change in listing agent, the total sale price was $178 million ($88.9 million each), down from the original asking price of $200 million.
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