HOFHEINZ

Palm Beach Daily News - - TODAY -

Beach — on any other real es­tate pro­jects.

But he has pre­vi­ously part­nered with his other two in­vestors in the At­lantic Av­enue project, Mi­ami de­vel­oper Jonathan Fryd and Scott Robins, pres­i­dent and CEO of Scott Robins

Cos. in Mi­ami Beach. Robins and Glaser have re­stored, ren­o­vated and built pro­jects to­gether in Mi­ami-Dade County for nearly 30 years, Glaser said.

“When I brought them up here, they got the same feel­ing that I had about Palm Beach — that it’s beau­ti­ful with great op­por­tu­ni­ties in res­i­den­tial real es­tate,” Glaser said. Levine was mayor of Mi­ami Beach from 2013 to 2017. He came in third in the Aug. 28 Demo­cratic pri­mary be­hind win­ner and for­mer Tal­la­has­see Mayor An­drew Gil­lum and for­mer U.S. Rep. Gwen Graham. Gil­lum is run­ning against Repub­li­can nom­i­nee U.S. Rep. Ron DeSan­tis in the Novem­ber gover­nor’s race.

Levine has been in­volved in a va­ri­ety of busi­nesses, in­clud­ing me­dia, startup in­vest­ments and real es­tate, ac­cord­ing to on­line bi­o­graph­i­cal sketches.

Fryd, a real es­tate bro­ker and gen­eral con­trac­tor, heads Fryd Prop­er­ties, a real es­tate man­age­ment and de­vel­op­ment firm in Mi­ami Beach.

Glaser’s in­vestor group used a Flor­ida lim­ited li­a­bil­ity com­pany named 111 At­lantic Av­enue

LLC to buy the prop­erty, court­house records show.

In an­tic­i­pa­tion of the sale, the seller in July won the town’s ap­proval to de­mol­ish the At­lantic Av­enue house, which was built in 1979 and has 5,399 to­tal square feet. Plans should be ready for the Ar­chi­tec­tural Com­mis­sion’s re­view in De­cem­ber, he said.

A house of about 7,500 square feet is be­ing de­signed for the east lot, which mea­sures 18,500 square feet, he said.

The west lot en­com­passes 15,500 square feet and the house there is be­ing de­signed with about 6,000 square feet, Glaser added.

Glaser has been ac­tive dur­ing the past year on the Palm Beach real es­tate scene af­ter spend­ing much of his ca­reer in real es­tate de­vel­op­ment in Mi­ami-Dade County. His most re­cent project there is the 1000 Mu­seum Tower con­do­minium build­ing in down­town Mi­ami.

Glaser was rep­re­sented in the sale on At­lantic Av­enue by agents A. Whit­ney McGurk and Liza Pulitzer of Brown Har­ris Stevens. Agent Tom

Shaw of Dou­glas El­li­man rep­re­sented the seller.

Glaser signed a $4.5 mil­lion mort­gage with City Na­tional Bank of Flor­ida on the prop­erty, ac­cord­ing to the doc­u­ment recorded Tues­day at Palm Beach County court­house.

In Novem­ber, one of Glaser’s com­pa­nies paid just un­der $11 mil­lion for a land­marked 1928 house at 125 Via Del Lago in the Es­tate Sec­tion. Glaser is fin­ish­ing up a ren­o­va­tion project there that in­cluded

The At­lantic Av­enue prop­erty is across the street and catty-corner from the sea­side house rocker Jon Bon Jovi

bought in March.

mov­ing the es­tate’s drive­way to bet­ter show­case the view of its rear fa­cade.

The house will shortly be listed for sale by McGurk and Pulitzer, said McGurk, who de­clined fur­ther com­ment.

Glaser and his wife, Kim, ren­o­vated an­other land­marked prop­erty with Art Deco-style ar­chi­tec­ture on the lake at 1221 N. Lake Way, which they bought for a recorded $5.9 mil­lion in Au­gust 2017.

They use the North End house as a pied-à-terre but have it listed for sale at $9.9 mil­lion through McGurk and Pulitzer.

More re­cently, McGurk and Pulitzer rep­re­sented Glaser when he bought a house built in 1950 at 244 Nightin­gale Trail on the North End. Glaser’s own­er­ship com­pany paid Hen­ri­ette Meran and hus­band David Bau­mann $3.1 mil­lion for it in April in a deal that saw Sotheby’s In­ter­na­tional Re­alty agent Pa­tri­cia Ma­haney on the seller’s end.

Glaser said he planned to ren­o­vate the con­tem­po­rary-style house on Nightin­gale Trail, which is be­ing con­sid­ered for land­mark des­ig­na­tion. But in­stead, he sold it in an Au­gust deal to 244 Nightin­gale LLC., an Ok­la­homa-based lim­ited li­a­bil­ity com­pany.

Agent Gary Pohrer of Dou­glas El­li­man acted for the buyer in that off-mar­ket deal. Glaser also owns com­mer­cial prop­erty he is plan­ning to re­de­velop at 301 South­ern Blvd. in West Palm Beach.

In the Casa Vera sale, Glaser was rep­re­sented by Mi­ami Beach real es­tate agent David Solomon of EWM Re­alty In­ter­na­tional. Dou­glas El­li­man agents Har­riet Brams and Steve J. Davis had the list­ing for the seller. On North Lake Way, Burt Minkoff, then of the Cor­co­ran Group but to­day with Dou­glas El­li­man, was the list­ing agent.

Bon Jovi bought his home in the quiet beach­front neigh­bor­hood from Ju­dith Gold­farb and her late hus­band, busi­ness­man Gene Gold­farb. Bro­ker Christian An­gle of Christian An­gle Real Es­tate han­dled the buyer’s side of that sale. Bro­ker Lawrence Moens of Lawrence A. Moens As­so­ci­ates had the list­ing. Both bro­kers have de­clined to dis­cuss the sale and the par­ties in­volved.

Photos by Dar­rell Hofheinz / Daily News

Built in 1979,the house cur­rently at 111At­lantic Ave. was ap­provedin July for de­mo­li­tion in an­tic­i­pa­tion of the sale thatjust closed.

The va­cant area on the west side of the prop­erty at 111 At­lantic Ave. has been des­ig­nated for a new house to be built on spec­u­la­tion by de­vel­oper Todd Michael Glaser and his in­vest­ment group.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.