Below-renovation house marketed for $28.5 million in Palm Seaside, deed reveals

An investment group led by developer Todd Michael Glaser has sold this Palm Beach house at 870 S. Ocean Blvd., which Glaser's group bought in January. The sale price for the under-renovation house was $28.5 million in the deal that closed Friday, according to Glaser.

The developer whose expenditure group in January paid nearly $13 million for a 1980s-period seaside home in Palm Beach – and then embarked on a renovation for resale — has marketed the property while in development. The rate recorded at $28.5 million for the estate at 870 S. Ocean Blvd.

The deal closed Friday, seller Todd Michael Glaser instructed the Palm Seashore Everyday News.

The deed lists the consumers as California trader Kevin Douglas and his spouse, Michelle, as trustees of the K&M Rely on. The few has an handle north of San Francisco in Kentfield, California, the deed shows.

Kevin Douglas founded and is chairman of Douglas Telecommunications, a spouse and children financial investment business by means of which he manages the Douglas family’s diversified investment decision portfolio, according to a temporary on the internet biographical sketch. His portfolio has involved key investments in IMAX Corp., the large-display movie-technology and theater enterprise, wherever he sits on the board of administrators.