D
eveloper Todd Michael Glaser has purchased 255 Royal Poinciana Way in Palm Beach for $8.5 million, according to a deed recorded on January 31. The two-story building, built in 1925, features a ground-floor storefront leased to Couture & More, an apparel boutique, and four vacant apartments above it. Glaser is still finalizing his plans for the property, which has a total of 4,213 square feet.

    The building was previously owned by Thomas "Tommy" J. Morrison and his father Carlos G. Morrison as co-trustees of a revocable trust in the name of the late Pedro G. Morrison. The Morriisons have a long history of investing in Palm Beach real estate through their Sympatico Real Estate firm.

    Glaser, who has a track record of buying, renovating, and selling properties in Palm Beach, plans to refresh the building once Couture & More's lease expires in June. He has already made several notable purchases in the area, including an office building at 175 Bradley Place and three commercial condominiums in the Palm Beach Towers development.

    The majority of buildings on Royal Poinciana Way are owned by companies affiliated with The Breakers, which have acquired nearly all of the properties on the street over the past seven years.