An oceanfront estate in Palm Beach, Fla., is in contract to be sold for about $160 million, according to the developer Todd Michael Glaser, who is one of the buyers.
If it closes, the deal would be one of the priciest ever in Palm Beach, where the record for a single-family home sale is held by a $170 million purchase by luxury car dealer Michael Cantanucci. The Florida price record was set last year by the sale of a home in Naples for $225 million.
Glaser, along with developer David Edelstein of TriCap, is purchasing the longtime home of the late real-estate developer Murray Goodman and his wife, Joanie Goodman. The deal is effectively a land play: The pink-hued, circa-1980s Goodman compound is in good condition, but Glaser said he and Edelstein plan to raze it and potentially build two separate homes on the roughly 2-acre site. The deal is contingent on the sellers splitting the property into two tax lots so they can be developed separately, said Glaser, who added that dividing the lot is the best way to capitalize on the velocity in the ultra-high-end market.
In Palm Beach, it isn't unusual for large oceanfront lots to be subdivided. An estate known as Maison de L'Amitié, once owned by President Trump, was subdivided by the Russian billionaire Dmitry Rybolovlev and split into three separate oceanfront lots, for instance.
The Goodman property first came on the market for $185 million in November 2025. Murray, who was known for the development of Palm Beach landmarks like the Esplanade luxury fashion center on Worth Avenue, died in 2024 aged 99, and Joanie was looking to downsize, their daughter, Marley Overman, said last year. Overman wasn't immediately available for comment on the prospective sale.
The compound was built on the site of what was once one of South Florida's most famous homes: Playa Riente, a 1920s-era mansion demolished in the 1950s by Anna Dodge, widow of automaker Horace Dodge. The Goodmans purchased the land for the house in the mid-1970s.
The home spans about 18,000 square feet, with 12 bedrooms spread across the main house and guesthouse.
Glaser is known for developing and renovating ultraluxury homes. A property he redeveloped on Tarpon Island in Palm Beach sold for about $150 million in 2024. He's also developing a Miami Beach megamansion on a site he bought for $105 million last year.
Overman, a real-estate agent at Illustrated Properties, had the listing with Gary Pohrer of Serhant. Spencer Schlager of Douglas Elliman represented Glaser.
The deal is the latest $100 million-plus teardown for Palm Beach.
Comments