Meanwhile in Palm Beach: Tarpon Island Estate Relists and More

Getting away from the cold weather in New York? How about flying south to not only warmer weather and luxurious digs, but your own private island? The Palm Beach compound, known as “Tarpon Island,” could be yours for a cool $187.5 million. It is the most expensive listing in not only Palm Beach County, but the state of Florida.

Chris Leavitt of Douglas Elliman and Suzanne Frisbie of The Corcoran Group have the co-exclusive.

Located just three-quarters of a mile from Worth Avenue and 4.5 miles from The Breakers Hotel, this 2.26-acre estate sits on the Intracoastal Waterway completely surrounded by water. Reachable by a private, gated bridge and, of course, by boat, the massive home offers 360-degree water views.

The newly completed 28,600-square-foot mansion offers every amenity imaginable. The property also boasts a lit tennis court, rarely seen, a 98-foot south-facing pool with a spa and a cold plunge, and a second, eastfacing pool with swim jets, complemented by a large loggia with a full outdoor kitchen, fireplace and pool bar. There are also two private docks.

Listed for $218 million last year, the house was pulled off the market during the Palm Beach summer market slow-down and relisted ahead of the busy winter season.

Real Estate Insider:

As the snowbirds fly east for the winter, we are catching up on the state of the Palm Beach real estate market. We reached out to Lisa Wilkinson of Douglas Elliman, a 20-plus-year veteran of South Florida’s luxury market, for the inside scoop.

BTH: What’s the status of the real estate market in Palm Beach?

LW: Palm Beach’s real estate market continues to surge, with a notable increase in demand for waterfront and new construction properties driving prices to new highs. Offmarket sales are still a very strong sub-market. As the trends persists, analysts predict sustained growth in property values

BTH: What’s ahead for the real estate market in Palm Beach next year?

LW: In 2024, reflecting a growing trend of luxury living on the island, investors and homebuyers alike are continue to be drawn to the exclusive charm and enduring appeal of the iconic locale of the Island, and this will contribute to a robust and dynamic real estate landscape on Palm Beach. Buyers may find that they have several options as more properties are entering the market.

BTH: How is the condo market faring as compared to single-family homes as we head into the new year?

LW: The condo market on-island has seen a dip in sales. Active days on market have increased. We are seeing properties in the market over 180 days. With the new construction luxury condos over the bridge, La Clara, Forté on Flagler and the South Flagler House, buyers have some enticing options.

Notable Sale:

Todd Glaser and Jim Randall of Randall Realty, the developer-investors behind the $187.5 million listing on Tarpon Island, also recently closed on an $18.8 million penthouse in nearby West Palm Beach.

He is already trying to flip the newly completed La Clara building for $28.5 million.

Chris Leavitt of Douglas Elliman and Carol Sollak of Engel & Völkers represented Glaser in the purchase and have relisted the unit.

Glaser told The Real Deal that he went into contract on the 8,000-square-foot penthouse more than two years ago.

The Real Deal reports that the four-bedroom condo is being redecorated by Glaser’s wife, interior designer Kim Glaser, and will be sold fully furnished. It even boats a private pool, a spa and a gym.

La Clara, a 25-story, 83-unit waterfront tower, also offers a pool, a fitness center, a wine tasting room and a lounge.