Developer buys Palm Beach household for $16.3 million to re-do for resale

A waterfront house built in 1976 at 576 Island Drive on Palm Beach’s Everglades Island has been bought for a recorded $16.325 million by a company controlled by developer Todd Michael Glaser. Glaser says he will renovate the house for resale.

Two subsequent-doorway design projects are in the will work on Everglades Island, now that a developer has paid a recorded $16.325 million for a 5-bed room home at 576 Island Drive in Palm Seaside.

Developer Todd Michael Glaser and two investors made use of an possession organization to buy the home in an off-marketplace deal, Glaser explained to the Palm Beach front Day by day News.

In April, the dwelling straight away to the north bought for a recorded $13.9 million to a different developer who options to replace it with one particular to be crafted on speculation.

Glaser as an alternative will rework the household his possession entity just bought, he reported. The options are to have the work completed in time to put it back again on the market in the drop with a rate of $28 million, mentioned Glaser, who heads his namesake organization, Todd Michael Glaser.

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