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The priciest listing in Palm Beach, Florida, which most recently asked $187.5 million, has gone into contract, listing portals show.
Developed by Todd Michael Glaser and partners, the property at 10 Tarpon Isle sits alone on its own 2.3-acre man-made island, and went into contract on Monday.
10 Tarpon Isle, Palm Beach | Credit: Zillow
Suzanne Frisbie of the Corcoran Group and Chris Leavitt of Douglas Elliman are representing the property. Margit Brandt of Premier Estate Properties is reportedly representing the buyer, according to The Real Deal.
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The sales price and the buyer’s identity remain unknown.
Glaser along with partners Jim Randall, Scott Robins and Jonathan Fryd purchased the island in 2021 for $85 million, after which they conducted extensive renovations and an expansion of the home with a new mansion, new pool and landscaping. The estate was put on the market for $210 million in 2021 before its completion and was later relisted for $218 million with Leavitt and top Palm Beach broker Christian Angle representing the property.
In the summer of 2023, the property was taken off the market and put back on the market in late November with the new price tag of $187.5 million.
10 Tarpon Isle, Palm Beach | Credit: Zillow
The mansion includes 11 bedrooms, 15 bathrooms and 1,300 feet of water frontage along the Intracoastal Waterway. The grounds encompass a lighted tennis court, two private docks, two pools and a loggia with outdoor kitchen and bar. The home itself also features a salon, massage room, steam room, gym, wine room and home office.
Florida’s priciest listing is currently a $295 million 9-acre estate in Naples that hit the market in February.
Palm Beach is known for its wealthy residents and trophy properties, and luxury real estate transactions have exploded in the South Florida enclave in recent years.
Last April, Green Mountain Coffee Roasters founder Robert Stiller and his wife, Christine Stiller, sold a $170 million property in an off-market deal to luxury car dealer Michael Cantanucci.
10 Tarpon Isle, Palm Beach | Credit: Zillow
In nearby Manalapan, billionaire Larry Ellison maintains the record for priciest deal across the state, with his purchase of a $173 million oceanfront property in 2022.
Sales have slowed in Palm Beach in recent months, however, leading to some price cuts and increased inventory. Luxury listing inventory more than doubled year over year, according to Douglas Elliman’s Q4 2023 Palm Beach report. Meanwhile, cosmetics heir William Lauder recently relisted two vacant Palm Beach parcels for a combined $178 million ($88.9 million each) after a listing agent change, down from the original ask of $200 million.
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