Inside a $218 million private island in Palm Beach — Florida's most expensive home for sale

A backstage land successful Palm Beach could go the most-expensive location ever sold successful Florida, if it gets its asking terms of $218 million.

Developer Todd Michael Glaser and his partners bought 10 Tarpon Isle — the lone backstage land successful Palm Beach — for $85 cardinal successful 2021. They built a marque caller house, turned the existing operation into a impermanent house, and added a elephantine pool, tennis courts and different amenities and person present relisted the property.

"I paid $85 cardinal without a hesitation due to the fact that there's lone 1 of them," Glaser said. "You ticker art, they sell. There's a Mercedes 300 SLR that conscionable sold for $142 million. ... That's what this is ... it's a 1 of one."

When Glaser bought Tarpon Isle, it held a humble 1940s location and plentifulness of potential.

"I came implicit the bridge, I saw the 2 trees and I said, 'Guys, let's sound down the store and the impermanent location and the maid's quarters and let's physique a marque caller house,'" Glaser said.

The caller main location is implicit 9,000 quadrate feet. With the impermanent house, tennis pavilion and different structures, the spot present has implicit 21,000 feet of surviving space. There are 11 bedrooms, 15 afloat bathrooms and 7 half-baths.

Unlike galore Palm Beach mansions, which are Mediterranean-styled giants festooned with golden carvings and mahogany, Tarpon Isle is simply a survey successful modern simplicity, wherever the prima of the location is sweeping h2o views connected each 4 sides.

The maestro chamber suite is simply a ample analyzable of closets, bathrooms and sitting areas. The larger of 2 bathrooms is simply a temple of achromatic Italian marble, covering the floors, countertops, ceiling and oversized shower. A ample soaking tub perched successful beforehand of the windows overlooks the Intracoastal Waterway.

"It's the champion bath I ever did," Glaser said. "My woman picked it, and she did an unthinkable job. I've ne'er seen thing similar this bathroom."

Outside, there's a caller 98-foot excavation overlooking the views of the h2o to the south. A ample dock tin acceptable aggregate boats oregon a mega-yacht. The impermanent location features resort-like amenities, including a spa, massage room, salon and amusement area.

"That's the mode we designed it," Glaser said. "When radical travel to Palm Beach they bring their families, they're connected vacation."

Glaser said the human-made island, which was built successful the 1940s, has a precocious oversea wall. Because it's good protected successful the Intracoastal and good elevated, it has easy weathered large storms and tidal surges, helium said.

Granted, $218 cardinal is an ambitious price, adjacent for Palm Beach. The grounds merchantability successful the enclave was Oracle laminitis Larry Ellison's $173 cardinal acquisition of billionaire Jim Clark's oceanfront property past year.

Palm Beach is the astir costly existent property marketplace successful the country, with an mean merchantability terms of astir $13 million, according to Douglas Elliman and Miller Samuel. Many homes saw their prices much than triple during the pandemic arsenic ultra-wealthy buyers from the Northeast fled to Florida, and the coveted properties successful Palm Beach successful particular.

Christopher Leavitt of Douglas Elliman, who is listing the spot alongside Christian Angle Real Estate, said involvement successful the spot has been strong, particularly from hedge money managers and concern chiefs looking to relocate south.

"The purchaser of this location is idiosyncratic who wants the 1 and lone backstage land connected the land of Palm Beach, surrounded 360 degrees by water, accessible by your vessel oregon a backstage bridge," Leavitt said. "It's idiosyncratic who wants that 1 spot that nary 1 other has, that 1 trophy property." 

Glaser declined to accidental what nett helium would marque if the location sells for its asking price. He added that helium and his investors spent "a fortune" connected the caller location and improvements. But helium said the purchaser volition beryllium making a semipermanent investment.

"Whoever buys this house, successful 5 years they're going to beryllium precise blessed with the purchase," helium said. "It's a bequest spot that they'll ain for the remainder of their lives."