Todd Glaser and Companions Spending $105M on Miami Seaside House

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Todd Glaser and Companions Spending $105M on Miami Seaside House

Florida
Chris
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February 11, 2025

Spec dwelling developer Todd Michael Glaser is seeking to set one other file — this time in Miami Seaside.

Glaser and his companions are underneath contract to accumulate the waterfront 2.3-acre property at 5940 North Bay Highway for $105 million, in accordance with actual property agent Nelson Gonzalez. Developer Sonny Kahn, a founding associate at Miami-based Crescent Heights, and his spouse Suzanne are promoting the property, information present.

The Wall Avenue Journal first reported the pending deal. It’s anticipated to shut in about two months.

The Kahns paid $2.4 million for the property in 1991, information present. The now 19,000-square-foot home was initially in-built 1936 and later expanded. It has eight bedrooms, 13 loos and three half-bathrooms.

Gonzalez mentioned that Glaser and his companions will both attempt to flip the property for a worth within the $150 million to $175 million vary, or redevelop the waterfront lot right into a spec mansion that would hit the marketplace for $250 million. Gonzalez isn’t concerned on this deal, however would record the property.

Both method, the present pending sale will set a file for waterfront dwelling gross sales in Miami Seaside.

Final 12 months, model mogul Anand Khubani paid $100 million for an assemblage on La Gorce Island in Miami Seaside, setting a metropolis file.

Glaser’s sale is about to mark one other signal of great exercise on North Bay Highway in current months. Khubani not too long ago paid $40 million for the waterfront mansion subsequent door to the Kahns. Billionaire Jamie Salter, the founder, chairman and CEO of Genuine Manufacturers Group, offered the not too long ago accomplished property at 5970 North Bay Highway to Khubani in January.

“North Bay Highway is the Park Avenue of Miami Seaside since you’re on the broad bay,” Gonzalez mentioned. Previous house owners on the road have included Dwyane Wade and Gabrielle Union, Matt Damon, Jennifer Lopez, Ricky Martin and Billy Joel.

He mentioned the Kahns’ lot is sort of 500 ft deep, which is uncommon for Miami Seaside. The property features a pool, dock, tennis court docket and a protracted driveway main as much as the property.

Final 12 months, David and Victoria Beckham paid $72.3 million for a waterfront spec mansion on North Bay Highway that holds the value file for the road. Days later, Richard Saghian, the billionaire founder and CEO of Style Nova, paid $30 million for a waterfront spec dwelling additionally on North Bay Highway and the non-waterfront home throughout the road.

In December, billionaire hedge fund supervisor Dan Loeb offered his waterfront mansion on North Bay Highway for $35.5 million.

And in April, billionaire media tycoon Barry Diller, who’s married to Diane von Furstenburg, purchased Bruce Beal Jr.’s waterfront lot at 5930 North Bay Highway for $45 million.

Glaser and his companions offered the waterfront Tarpon Island property in Palm Seaside final 12 months for $150 million, marking one of the costly single-family dwelling gross sales in Florida.