Tarpon Island, the vaunted fixture of Palm Beach’s Billionaires’ Row, is once again up for grabs: this time for a casual US$218 million (AU$322 million), effectively making it the world’s third most expensive home for sale.
The headline-making mansion has changed hands a few times this past year. In April 2021, The Wall Street Journal reported it was in contract to sell for almost US$90 million (AU$133 million) as the latest in a long procession of the Floridian corner’s “big-ticket deals.”
In July 2021, it was officially sold to prolific South Florida developer – Todd Michael Glaser – for US$85 million (AU$125 million). And you’d think that would be all she wrote. At least for another calendar cycle or so. But less than three months later, it returned to the market with an asking price of US$120 million (AU$177 million).
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The reason for the price bump comes down to the property’s existing 1930s estate, which has undergone an extensive renovation process that’s nearing completion, according to The New York Post. Originally designed by Howard Major, it’s now been “largely reimagined” with additional square footage, two pools, a five-car garage, as well as an illuminated tennis court.
“According to the listing today, the pad has almost doubled its footprint and clocks in at an impressive 21,406 square feet,” explains Abby Montanez of Robb Report.
“There are now 11 bedrooms, 15 full bathrooms, and seven half-baths, plus a guest house. Internally, you’ll also find an indoor spa that’s been decked out with a massage room, a hair salon, a steam room, and a sauna. Additional perks include a wine room, an elevator, and a gym that has a weight room, a cardio room, a wet bar, and its own fireplace.”
Interested parties should get in contact with listing agent Christian Angle of Christian Angle Real Estate.
Original Article – Iconic Palm Beach Island Returns To Market With $133 Million Price Tag
Accessible by bridge, boat, seaplane, or helicopter, Tarpon Island is on track to be snapped up by prolific South Florida developer – Todd Michael Glaser – after a year of convincing owners William and Eileen Toll to sell; the latter of whom have retained ownership for decades (since 1998).
Glaser plans to completely “renovate and expand” the primary residence originally built during the 1930s. If all goes to plan, Tarpon Island mansion will double its square footage to approximately 22,000, set upon 2.5 acres of land, in addition to welcoming the following amenities:
- Indoor + outdoor pools
- Gym
- Tennis pavilion
- Padel ball court (a racket sport similar to squash which has apparently become “incredibly popular with the jet set”)
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Like many aspects of the 1% lifestyle, Tarpon Island mansion wasn’t publicly listed. Setting aside the limited access via private residential cul-de-sac which only counts two other homes in the vicinity, it’s been noted to be unusually private (even by the area’s standards).
“Most people in Palm Beach don’t even know this island exists… it’s classic old Palm Beach glamour,” said Todd Glaser.
“Imagine attending a fundraiser there. You have a fabulous time and then you throw your check in a little bucket as you go over the bridge on your way out.”
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“From a standpoint of scarcity, it’s pretty scarce,” added Suzanne Frisbie of Premier Estate Properties in reference to how Palm Beach is currently facing a “dramatic shortage of high-end inventory.”
Todd Michael Glaser has recently acquired another Palm Beach house that previously belonged to disgraced financier and convicted paedophile, Jeffrey Epstein. Many – especially the locals of Palm Beach – will be relieved to hear that he plans to demolish the entire site for a fresh start, although one cannot help but think Epstein’s legacy beyond the grave is far too indelible for something as trivial as a new property development to erase.
The Tarpon Island mansion, Palm Beach deal is scheduled to close in the next few months.
