June 2024- Palm Beach's sole private island, 10 Tarpon Isle, has been sold for $150 million

June 2024- Palm Beach's sole private island, 10 Tarpon Isle, has been sold for $150 million

In a groundbreaking transaction, Tarpon Island, Palm Beach's only private island, has sold for a record $150 million. This sale, recorded under the address 10 Tarpon Isle, marks the highest price ever paid for a property on the Intracoastal Waterway without additional ocean frontage in Palm Beach. The final sale price of $150 million represented a 30% discount off the original asking price. According to the Palm Beach Board of Realtors, Margit Brandt of Premier Estate Properties represented the buyer. Although all agents involved have declined to comment due to an NDA, Brandt’s Instagram channel featured a short aerial video of the property that quickly amassed 45,000 views.

Tarpon Island, situated in the Estate Section of Palm Beach, spans approximately 2.3 acres and offers 1,163 feet of waterfront views. The two-story mansion includes 11 bedrooms and 28,618 square feet of living space, a lighted tennis court, and two swimming pools—one being a 98-foot-long lakefront pool with a whirlpool spa and cold plunge, and the other a jet pool.

Developer Todd Michael Glaser, through his Miami Beach-based real estate company, spearheaded the extensive renovation and expansion of the property. Despite a confidentiality agreement restricting discussion of sale details, Glaser previously highlighted the unique appeal of Tarpon Island, including its one-of-a-kind private bridge. The island, also accessible by boat, was purchased for $85 million in 2021 before its transformation.

The $150 million sale is the third-largest residential transaction in Palm Beach history, trailing only two deals from last year: an off-market $170 million sale of an oceanfront estate at 589 N. County Road and a $155 million private transaction for the late Rush Limbaugh’s estate at 1495 N. Ocean Blvd.

The Tarpon Island sale is the largest transaction in Palm Beach and Florida in 2024 and likely the United States, underscoring Palm Beach County's status as a top destination for real estate investors, families, and companies. Since 2019, it is the 10th largest transaction in the ultra-luxury residential market, joining notable sales like Jay-Z & Beyonce’s Malibu property at $190 million, Ken Griffin’s Central Park South penthouse for $239 million, and Larry Ellison’s purchase of the Ziff estate (dubbed Gemini) in Manalapan, FL for $173 million.

Overall, 40% of the 10 largest sales in America since 2019 have occurred in Palm Beach County. All of the top four sales in Florida since 2019 have taken place in Palm Beach County. Tarpon Island ranks as the fourth-largest sale in Florida since 2019.

Initially listed in October 2021 during a pandemic-induced real estate boom, Tarpon Island was first priced at $125 million for the land and renovation plans. The property was later listed at $210 million pre-construction and peaked at $218 million before being relisted at $187.5 million during the final construction stages. It holds the record for the most expensive home ever marketed in Palm Beach’s MLS.

Feel free to get in touch with David Freed, your trusted Miami Realtor, for any of your Brickell condo buying needs.

June 2024- Palm Beach's sole private island, 10 Tarpon Isle, has been sold for $150 million
June 2024- Palm Beach's sole private island, 10 Tarpon Isle, has been sold for $150 million
June 2024- Palm Beach's sole private island, 10 Tarpon Isle, has been sold for $150 million
June 2024- Palm Beach's sole private island, 10 Tarpon Isle, has been sold for $150 million
June 2024- Palm Beach's sole private island, 10 Tarpon Isle, has been sold for $150 million
June 2024- Palm Beach's sole private island, 10 Tarpon Isle, has been sold for $150 million

WITH

Trustworthy. Dedicated. Dependable. David Freed has over 26 years of customer service excellence and has amassed a renowned class of clientele and unmatched experience.