Palm Beach is one of the most expensive zip codes in America. It’s an area where $50 million mansion are no big deal, and are frequently torn down to make way for $100 million mansions. But in a town full of extremely expensive real estate, there is only on private island. That private island, known legally by its address 10 Tarpon Isle, sold for $85 million in July 2021 for $85 million.
Just a few months after it sold for $85 million, in September 2021, 10 Tarpon came back to market seeking $120 million. Unfortunately for the owner, a buyer was never found. Fortunately though, this incredibly unique estate has returned to market once again. And now its asking price is $218 million. FYI, if it sells for $218 million 10 Tarpon would be considered the most expensive home sale in the history of the United States.
In the time since selling in 2021 and coming back to market a few months later, 10 Tarpon has been extensively renovated. The current owner (a group headed by developer Todd Glaser) re-built the structures from the ground up. The property’s preexisting home was converted into a guesthouse, altogether the property boasts over 21,400 square feet of living space with 11 bedrooms and 15 bathrooms. Here’s a bit from the property’s official listing:
“Once in a lifetime Legacy Estate– One-of-a-Kind Private Island with 360 degrees of water views and privacy. This spectacular estate is the Only Private Island on all of Palm Beach. Stunning brand new estate with reimagined spa and guest house.”
The home is outfitted with a plethora of amenities including an “Entertainment Room with fireplace, wine refrigerator, billiards table, and movie lounge,” plus a home gym, two boat docks, a viewing platform, an elevator, a wine room, and a “playroom” with its own beverage station. But Glaser tells CNBC he sees the island as a work of art unto itself:
“I paid $85 million without hesitation because there’s only one of them…You watch art, they sell. There’s a Mercedes 300 SLR that just sold for $142 million … That’s what this is … it’s a one of one.”
If the island property sells at $218 million or close to it, it will rank number two on this list of the most expensive home sales in the country. And it might even be considered the single most expensive, since the number one spot on that list is occupied by three separate units sold at once. Glaser isn’t saying how much he spent on renovating the property and building the new house, other than to say it was “a fortune.”
The main house also stands apart in its architectural style, sleek and minimalist compared to the flashier homes in the area, allowing the surrounding natural beauty to take center stage. You can take a look at the island in the video below, from before the redesign, from Nitesh Rizal on YouTube: