(Left to Right): Brandon Zarco & Todd Glaser

Todd Michael Glaser is a renowned real estate developer, owner’s representative, and business connoisseur. Starting his career as a fire sprinkler designer gave him a foundational understanding of building construction and developments, and now he sells multimillion-dollar properties, owns some of the largest real estate developments in South Florida, and has worked with A-list celebrities such as DJ Khaled, A-Rod, Lil Wayne, Chris Bosh, Hulk Hogan, Randy Frankel (owner of Tampa Bay Rays), Kevin Douglas (IMAX board member), and Stephen Levin (founder of Gold Coast Beverage Distributors).

Though originally from Miami Beach, Glaser has most recently brought his expertise to the Palm Beach market. Of course, the area has always been known for its beautiful estates, upscale resorts, and palm-tree-lined shopping district of Worth Avenue. Since 2020, the real estate market in Palm Beach has grown rapidly. Whereas a decade ago a $20 to $30 million house was considered top of the market, that price is now considered average, with $100 million homes in the mix.

“It’s a generational change in 2017 that I caught,” Glaser says. “A lot of stuff that had not come on the market for at least 50, 60, 70 years is starting to bubble up. They are big, expansive estates, and Miami Beach does not have that. The Palm Beach market, like Tarpon Island, really does not exist in Miami.”

Tarpon Island is a one-of-a-kind private island estate a block from Worth Avenue that Glaser bought this year and is currently renovating and developing. It has only one single-family home, accessible via its own bridge. The home has 1,300 linear feet of waterfront and will boast almost 25,000 square feet once completed. It will be brought to market by Lawrence Moens and will be listed for sale as-is for $120 million. If the buyer would like Glaser to complete the renovations, the cost will be $200 million.

Glaser recently sat down with Haute Residence to discuss his success in the new market, his favorite projects, and why Palm Beach is stealing the limelight from Miami Beach.

Tarpon Island, Palm Beach County, Florida

Haute Residence: What are some of the projects you’ve worked on in Palm Beach?

Todd Michael Glaser: I went into the market and purchased some landmark homes, renovated them, assembled a team of subcontractors, and once I felt comfortable, I started building. I did 125 Via del Lago, 121 North Lake Way, and 127 Dunbar Road, which are all landmark homes. I bought 127 Dunbar Road for $17 million and sold it for $27.5 million in under 10 months.

The reason we’re renovating right now is to get products on the market. In Palm Beach, there are only about 18 listings right now, whereas there are usually about 190. So we decided to buy some properties in April and May that we could fix and have on the market by October 15 to capitalize on the upcoming season.

HR: How has the real estate market in Palm Beach changed recently?

TMG: The real estate market, in general, hasn’t gone up so much in the last 15 years, and I attribute a lot of it to what somebody’s net worth is versus what they’re buying house-wise — it doesn’t correlate. Before, people used to buy a $150,000 house and you were only making $30,000 per year — one-fifth that amount. However, to flip that ratio, if somebody is worth $3 billion, why wouldn’t they buy a billion-dollar house valued at around a third of their worth? The correlation is off. In 2001, we started seeing $3 million houses. In 20 years, pricing has gone up, but not as much as what people’s income and net worth have risen. The graph of people’s income and net worth is vertical, and real estate has seen a slow rise. I think real estate is way undervalued.

But for Palm Beach, let's go back four years. Four years ago, when I bought 125 Via Del Mar, Miami Beach and Palm Beach properties were actually the same prices. That shocked me. I paid $6 million for a property and we later sold it for $16 million. That's what really caught my eye — I could finally buy in Palm Beach for the same price as Miami Beach. There have been eight single-family homes that have sold for over $100 million in the last 18 months in Palm Beach. It's a new trend, and a $50 million house in Palm Beach is not that big of a deal anymore because the sale prices have gone up to $100 million.

HR: What do you and your team hope to accomplish in the fourth quarter of 2021?

TMG: We own several properties that can be sold as land, and we’re looking to see if we can sell them simply for an appreciated land value. There's been a big increase in land values in the last six to eight months. There are a lot of people out there looking for land, and there’s nothing out there. We currently own a lot of property in Palm Beach. We’re also building some new homes because there’s no inventory in Palm Beach. We’ve never seen anything like this.

HR: What makes Palm Beach better than Miami Beach?

TMG: Palm Beach has the highest elevations on the east coast of Florida, and that’s why people picked it. The size of the parcels, when they were subdivided, was done in a resident-oriented way. They do everything for the residents in Palm Beach.

On the other hand, Miami Beach seems to be increasingly catering to tourists. I’ve lived here my whole life and have watched the city grow out of its small beach-town environment and into this booming metropolis. It used to have small-town vibes where everyone knew their neighbors, but those days are gone. I’ve renamed Miami Beach the city of Miami Beach — it’s not a town anymore, it’s a full-blown city. So many of us are gravitating up to Palm Beach, and a lot of young families are moving there, which is fantastic.

For more information and available properties, please visit toddmichaelglaser.com.

The post Palm Beach Paradise: An Interview With Todd Michael Glaser appeared first on Haute Residence by Haute Living.

Spectacular direct ocean views from this magnificently renovated penthouse apartment in the coveted 2500 building. All new white impact doors lead out to the large wraparound terrace with breathtaking views of the Ocean and Intracoastal. Total interior renovation with the finest material and fixtures. Spa-like baths, high ceilings, custom woodwork, and spacious fitted closets. Poolside cabana included. 2 pets allowed. The building has undergone extensive renovations with new balconies, common areas, fitness center, pool area, community room, and tennis courts. There is 2 car garage parking, 24 hour manned gatehouse, pool attendant, and each building has its own porter. The property is magnificent and sits on 8.6 Oceanfront acres with lots of green space and a wide beach.

Address: 2500 S Ocean, Ph C 5, Palm Beach, FL 33480

Price: $3,150,000

For more information, please contact Pamela Gottfried And Joan Wenzel at 561.371.5700 or pamela.gottfried@elliman.com and joan.wenzel@elliman.com

Pamela Gottfried And Joan Wenzel are the exclusive agents representing the Palm Beach, FL market as members of the Haute Residence Real Estate Network. View all of their listings here.

Photo Credit: Douglas Elliman Real Estate Photo Credit: Douglas Elliman Real Estate Photo Credit: Douglas Elliman Real Estate Photo Credit: Douglas Elliman Real Estate Photo Credit: Douglas Elliman Real Estate

The post Pamela Gottfried and Joan Wenzel Present A Magnificent Palm Beach Residence appeared first on Haute Residence by Haute Living.

Since becoming licensed in 1999, Steve Solomon has had many years of building successful client relationships. As a Broker Associate and Senior Director of Luxury Sales, he is an important member of the team at Douglas Elliman Real Estate. Steven’s impressive portfolio of completed transactions demonstrates that he is well-versed and experienced in all luxury offerings across South Florida. A resident of the Boca Raton area since 1992, and an active member of the community that he calls home, Steve’s knowledge and access to the high-end Boca Real Estate market are unparalleled. Haute Residence caught up with Solomon to discuss how long he's lived in Palm Beach county and what his favorite restaurants are.

How long have you lived in the Palm Beach County area?

We relocated to Boca Raton from Philadelphia by way of NYC in 1992.

How has the entertainment development changed over the last 10 years? Are you seeing more restaurants and shops?

The Boca Raton/Delray Beach area has certainly felt a boom over these years. Literally, thousands of multi-million dollar homes have been built and sold during this time. Shopping centers have been built with all sorts of shops, restaurants and service businesses. Public parks have been built and some older parks have been renovated and expanded. The public schools are always being upgraded and the private schools are expanding. Hotels have been opened that cater to tourist and business travelers alike. Our downtown areas are thriving and offer many community events that are generally well organized and attended. Overall, the area has experienced tremendous growth as many people continue to relocate to the area.

What are some of your favorite restaurants and shops in Delray and Boca Raton?

There are so many terrific restaurants here, I don’t like to single out just a few. Be sure that whatever culinary desires one has, can be fully satisfied in, or close to, the Boca Raton/Delray Beach area. From fast-casual to formal dining and everything in between, it’s all here.

Photo Credit: Photo by Kenny Luo

Do you think new real estate development in the area is influencing new dining and shops in the area?

Anyone that spends time in this area will clearly see the continued influx of the very affluent to our area. It’s natural for businesses that cater to this clientele to open up close by in order to best serve them.

Is there something you’d like to see in the area in terms of shopping or entertainment?

Don’t forget, we are located between Miami and Palm Beach. It’s hard to imagine any shopping or other entertainment that is not either already available or in the process of becoming available in beautiful and thriving, south Florida.

The post Steven Solomon’s Favorite Places In Palm Beach County appeared first on Haute Residence by Haute Living.

Waterfront home with riparian rights along the Intracoastal on West Palm Beach's prestigious Flagler Drive. This one-story home features spacious living areas with 4 bedrooms, all new bathrooms and new natural wood-looking tile floors in the heart of the historic El Cid neighborhood. Convenient location for access to downtown WPB, Palm Beach, and the airport.RENTED June 21, 2019 - July 30, 2020.

Address: 2405 S Flagler Drive, West Palm Beach, FL 33401

Price: $2,800,000

For more information, please contact Tina Fanjul Associates at 561-659-5113 or office@fanjulrealestate.com

Tina Fanjul Associates is the exclusive agent representing the Palm Beach/West Palm Beach real estate market as a member of the Haute Residence Real Estate Network. View all of their listings here.

Photos courtesy of Tina Fanjul 

The post Spacious West Palm Beach Home appeared first on Haute Residence by Haute Living.