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eveloper Todd Glaser made an off-market sale to billionaire Herbert Wertheim after a chance encounter at SurfSide Diner in Palm Beach. Wertheim purchased the 5,400-square-foot waterfront house on Indian Road from Glaser's LLC for $38 million, marking a significant closing as the market is expected to remain strong this season. Agents predict another robust year for residential sales following last week's election.

    Glaser, who has renovated properties like Tarpon Island and sold it for $152 million in May, now focuses on renovations rather than ground-up developments due to lower costs and faster completion times. Wertheim, an 85-year-old optometrist with a net worth of $5.9 billion, bought into the island last year when he purchased a furnished townhouse at Brazilian Avenue for $18.9 million.

    Wertheim's purchase is part of a flurry of high-end deals in Palm Beach this fall. The oceanfront home of Jerry Schuster sold to an undisclosed buyer for $42.5 million in October, while Leonard Riggio's estate, which went into contract asking $96 million in August, is expected to close soon.