A two-story unfinished penthouse atop the Tiffany building in Palm Beach has sold for $18 million. The seller was South Florida developer Todd Michael Glaser and his partners. The buyer was not identified.
Located at the hub of Palm Beach on the corner of Worth & Hibiscus avenues, it went on the market last year at $24 million. Mr. Glaser and his partners brought the unit last year for $15.5 million. It is estimated that it will cost upwards of $5 million to complete.
With over 9,800 sq. ft. of space, there is also a private roof deck with a pool, dining area and outdoor bar. It is the one & only residence in this iconic Palm Beach building.
The building was originally purchased for $20 million by developer John Kean, of Kean Development, in partnership with the Fortress Investment Group and Hyde Retail Partners in 2018.
The listing agents were Chris Leavitt of Douglas Elliman & Jill Eber and Jill Hertzberg of The Jills Zeder Group at Coldwell Banker. Christian J. Angle of Christian Angle Real Estate represented the buyer.