Townhouse duplex built on spec brings $13.6M in Palm Beach


The two townhomes were developed by Todd Michael Glaser.

Darrell Hofheinz
 
| Palm Beach Daily News

Both townhouses in a duplex completed this year at 237 Brazilian Ave. have sold to the same buyer, sources familiar with the transaction told the Palm Beach Daily News.

The townhouses changed hands for a combined $13.67 million, according to the prices recorded Wednesday with the two deeds. Each five-bedroom townhouse fetched a recorded $6.83 million.

The identity of the buyer was not revealed in the preliminary information about the sales posted Wednesday on the Palm Beach County Clerk’s website. 

The townhouse project was built on speculation by developer Todd Michael Glaser, who declined to comment on the transaction.

The townhouses have a combined 12,238 square feet of living space, inside and out, building records show. Measuring four-tenths of an acre, the property is on the north side of Brazilian Avenue, a few lots west of South County Road.

Architect Rafael Portuondo of Portuondo-Perotti in Coral Gables designed the townhouses. Each unit has an open-air entry that leads through the foyer into an interior courtyard that runs nearly the length of the development. The design allows many of the rooms to overlook the courtyard. At the rear are two private swimming pools. 

Agent Suzanne Frisbie of Premier Estate Properties listed the two townhouses for sale in late May at a combined price tag of $15.8 million. She marketed the property as “an in-town residential compound.”

She also had priced the units individually at $7.9 million. Frisbie couldn’t be reached.

Corcoran Group agents Paulette Koch and Dana Koch represented the buyer’s side of the sale, according the the local multiple listing service. Dana Koch declined to comment on their behalf.

Each of the residences includes a combined kitchen and family room area and a master bedroom suite with a shared bathroom and dual closets. French doors in the living and dining room open to the courtyard to provide “a perfect setting for indoor or outdoor entertaining and dining,” according to the sales listing.

There also are two elevators and a pair of two-car garages.

Glaser spent much of his career in real estate development, restoration and renovation in Miami-Dade County before entering the Palm Beach market about three years ago. Among his most prominent projects in Miami is the 1000 Museum condominium tower downtown.

In Palm Beach, Glaser has made a non-binding offer on the former home of the late sex offender Jeffrey Epstein on the lakefront at 358 El Brillo Road, as previously reported by the Daily News. If the deal goes through, Glaser said, he would develop a new house there on speculation.

>>RELATED CONTENT: Developer makes offer on Jeffrey Epstein’s Palm Beach house with plans to raze it

Through his company, Todd Michael Glaser, the developer has renovated two landmarked houses in Palm Beach, selling one of them at 125 Via Del Lago for a recorded $16.1 million in July 2019.

Earlier this year, Glaser sold two houses his company developed on speculation in the ocean block of Atlantic Avenue on the North End of town. In February, he sold 113 Atlantic Ave. for a recorded $9.41 million. He sold the house next door at 111 Atlantic Ave. in July for a recorded $10.67 million. Both houses were designed by Portuondo.

>>RELATED CONTENT: Palm Beach real estate: 3 spec house sales in a week top $10M each

With offices in Palm Beach and Miami Beach, Glaser’s company has a new spec house going up at 259 Pendleton Avenue in Midtown and is renovating a landmarked house Glaser and his wife, Kim, bought for a recorded $17 million in June at 127 Dunbar Road.

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This is a developing story. Check back for updates.

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