Firm tied to physician executive buys renovated Palm Beach mansion for $34M

Firm tied to physician executive buys renovated Palm Beach mansion for $34M

A company led by Dr. Robert Fishel , a physician executive from Delray Beach, paid $34 million for a recently renovated mansion in Palm Beach.

The 8,501-square-foot home at 210 Via Del Mar was sold by 210 Via Del Mar LLC, led by luxury homebuilder Todd Michael Glaser and his wife, Kim Glaser . It was purchased by BeachBoyz Development LLC, managed by Fishel and based at the Delray Beach address of another mansion that is currently his homestead property.

The price on the deed was $31.67 million, but Todd Michael Glaser said it was actually $34 million because the commission and title insurance was not included on the deed.

Lawrence Moens of Lawrence A. Moens Associates represented the seller in the deal, which equated to $4,000 a square foot.

The property along the Intracoastal Waterway last traded for $23.75 million in May 2021. Todd Michael Glaser said he renovated the property with a new pool and spa, as well as interior decorations. He handled the construction management himself and his wife crafted the design.

The Glasers have made big money over the past two years buying, renovating and selling mansions in Palm Beach and Miami Beach. They are capitalizing on the influx of wealthy executives seeking larger places to live to South Florida. Some of these homes haven’t been updated in decades, so modernizing them adds to their value.

This home was constructed on a 0.54-acre lot in 1925 by noted architect Maurice Fatio. It’s in the French Normandy architectural style, which is fairly rare on Palm Beach.

It has nine bedrooms, 7.5 bathrooms, a bar, an office, a dock, and the new pool.

As for the buyer, Fishel is founder and president of Florida Electrophysiology Associates, which provides cardiac physicians to 13 hospitals. He’s a partner at Atlanta-based multifamily developer Catalyst Development Partners, a partner in multifamily firm Renaissance Properties New York, president of Delray Beach-based ACT Pharmaceuticals and chief medical officer of Israel-based medical device company NewPace. He’s also the director of the electrophysiology department at JFK Medical Center in Atlantis. In addition, Fishtel is a partner in Boca Raton-based, early-stage investor group New World Angels.

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