With summer here, Palm Beach’s priciest listing — a $218M whopper — takes a hiatus

Darrell Hofheinz, Palm Beach Daily News
Updated ·2 min read

People who keep up with Palm Beach real estate may have noticed that the town’s most expensive residential listing — a private island priced at $218 million with a renovated-and-expanded house — quietly dropped out of the multiple listing service this month.

The listing for 10 Tarpon Island was withdrawn with the arrival of summer, confirmed Todd Michael Glaser, who completely redeveloped the property after the investment group he put together bought it for $85 million in July 2021. He declined further comment.

Properties, especially high-end ones, sometimes take a hiatus from the MLS during town’s off season, when the number of Palm Beach house shoppers typically dwindles as summer destinations beckon from up north.

Evidently, the very rich have other things on their minds than local real estate during the warmer months.

The listing for Tarpon Island also dropped out of the MLS in early 2022, while the project was finishing up construction, before re-entering the market as an active listing in November.

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John O. Pickett III, president of the Palm Beach Board of Realtors, isn’t affiliated with Tarpon Island. But he acknowledged that summer breaks for listings are nearly as common as summer breaks for schoolkids.

“Many times with a very large property, people think the summer is a good time to give the property a break from the market, a pause if you will,” said Pickett, an agent with Brown Harris Stevens.

A remodeled-and-expanded house on Tarpon Island, Palm Beach's only private island, is taking a summer break from the multiple listing service after being listed last last season at $218 million as the most expensive residential property in town.
A remodeled-and-expanded house on Tarpon Island, Palm Beach's only private island, is taking a summer break from the multiple listing service after being listed last last season at $218 million as the most expensive residential property in town.

Broker Christian Angle Real Estate and agent Chris Leavitt of Douglas Elliman Real Estate held the co-listing.

With 360-degree views of the Intracoastal Waterway, the artificial island in the Estate Section measures about 2.3 acres. A picturesque bridge connects it to Tarpon Way, which leads to the rest of Palm Beach.

The 11-bedroom property has 28,618 total square feet of living space, inside and out, the plans show. The long list of amenities includes a five-car garage; a 98-foot swimming pool with a whirlpool spa and a "cold plunge" pool; and one of the town's only lighted tennis courts. The layout includes an indoor spa with a massage room, hair salon, steam room and sauna; a paneled library; a home gym; and an entertainment room with a fireplace, wine storage, billiards area and movie lounge.

When it comes to high-dollar homes in Palm Beach, Pickett added, properties can still find buyers, even when they're out of the MLS. Private sales are not uncommon in Palm Beach.

“I promise you that if you call the listing agent tomorrow and offer full price, the agent isn’t going to say, ‘Sorry, but that’s no longer on the market,’” Pickett said.

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Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly “Beyond the Hedges” column. He welcomes tips about real estate news on the island. Email dhofheinz@pbdailynews.com, call 561-820-3831 or tweet @PBDN_Hofheinz. Help support our journalism. Subscribe today.

This article originally appeared on Palm Beach Daily News: Palm Beach real estate: Private island listed at $218M leaves the MLS