Former gubernatorial candidate invests in island
Democrat Philip Levine among group that paid $9 million for double lot on North End.
Palm Beach developer Todd Michael Glaser and an investor group that includes former state Democratic gubernatorial candidate Philip Levine are behind the company that just paid a recorded $9 million for an oversized property on the North End.
Glaser said he and his investors plan to develop two houses on speculation at the property at 111 Atlantic Ave. The property measures three-quarters of an acre with a house on its eastern half and a vacant lot to the west.
The property has a famous neighbor. It’s across the street and catty-corner from the seaside house rocker
Jon Bon Jovi bought in March, using an ownership company, for $10 million. Bon Jovi’s house, at 230 N. Ocean Blvd., is on the corner of Atlantic Avenue.
Three lots west of the ocean, the property at
111 Atlantic Ave. was sold in an off-market deal by Sandell Corp., a company registered in the British Virgin Islands. Laila Ghandour signed the deed as a director of the company, which has an address in care of the Zielinski & Boyd accounting firm in West Palm Beach.
Sandell Corp. had paid $1.385 million for the property in 1990, according to courthouse records.
Glaser said he hasn’t worked with Levine — a former mayor of Miami