Inside a $218 million private island in Palm Beach, Florida.

A private island in Palm Beach could be the most expensive home ever sold in Florida if its asking price is $218 million.

Developer Todd Michael Glazer and partners bought 10 Tarpon Isle – Palm Beach’s only private island – for $85 million in 2021. They built a brand new house, turned the existing structure into a guest house and added a giant swimming pool, tennis courts. and other amenities and now they have re-listed the property for sale.

“I paid $85 million without hesitation because this is just one of them,” Glaser said. “You look at art, it sells. There’s a Mercedes 300 SLR that just sold for $142 million… That’s what it is… it’s one of a kind.”

When Glaser bought Tarpon Island, it had a modest 1940s home and a lot of potential.

“I went to the bridge and I saw two trees and I said, ‘Guys, let’s demolish the garage, the guest house and the maid’s room and build a new house,’” Glaser said.

The new main house is over 9,000 square feet. With a guest house, tennis pavilion, and other outbuildings, the property now has over 21,000 feet of living space. There are 11 bedrooms, 15 full bathrooms and seven half baths.

Unlike many Palm Beach mansions, which are Mediterranean-style giants adorned with gold carvings and mahogany, Tarpon Island is an example of modern simplicity, where the star of the house is stunning water views from all four directions.

The master bedroom is a large complex of closets, bathrooms and living areas. The larger of the two bathrooms is a temple of white Italian marble covering the floors, countertops, ceiling and large walk-in shower. A large bathtub, located in front of the windows, overlooks the Coastal Canal.

“This is the best bathroom I’ve ever done,” Glaser said. “She was chosen by my wife and she did an incredible job. I have never seen anything like this bathroom.”

Outside there is a new 98ft swimming pool overlooking the water to the south. The large dock can accommodate several boats or a mega yacht. The guest house offers resort facilities, including a spa, massage parlour, salon and entertainment area.

“That’s how we designed it,” Glaser said. “When people come to Palm Beach, they bring their families, they’re on vacation.”

Glazer said the artificial island, built in the 1940s, has a high sea wall. Because it is well protected inland and well raised, he says it can handle strong storms and high tides with ease.

Of course, $218 million is an ambitious price even for Palm Beach. The record sale in the enclave was Oracle founder Larry Ellison’s $173 million purchase of billionaire Jim Clark’s oceanfront estate last year.

According to Douglas Elliman and Miller Samuel, Palm Beach is the most expensive real estate market in the country with an average sale price of nearly $13 million. Many home prices more than tripled during the pandemic as super-wealthy buyers from the northeast fled to Florida, in particular to coveted real estate in Palm Beach.

Christopher Leavitt of Douglas Elliman, who lists the property for sale with Christian Angle Real Estate, said interest in the property has been high, especially from hedge fund managers and financial executives looking to relocate south.

“The buyer of this home is someone who wants to have the only private island on Palm Beach Island, surrounded by 360 degrees of water, accessible by boat or private bridge,” Leavitt said. “It’s someone who wants one property that no one else has, one trophy property.”

Glazer declined to say how much profit he would make if the house was sold at the asking price. He added that he and his investors spent a “fortune” on a new home and improvements. But he said the buyer would make a long-term investment.

“Whoever buys this house will be very happy with the purchase in five years,” he said. “This is an ancestral property that they will own for the rest of their lives.”