Todd Glaser, a spec developer known for pushing the boundaries in South Florida, is putting down roots in the South Fork and bringing his appetite for renovations to the wealthy enclave.
Glaser paid $16.25 million for a historic home at 186 Main Street in Sag Harbor, the developer told The Real Deal.
Built in 1834 by a prominent whaling family, the property dubbed the Hannibal French House now stands at 6,500 square feet on .59 acres of land on Captain’s Row in Sag Harbor Village. After expansions in the 19th century, Charles Edison, the former governor of New Jersey and son of Thomas Edison, purchased the home 1948 and commenced on a major restoration.
The seven-bedroom, four-bathroom property is also notably home to Sag Harbor’s only formal ballroom according to the property listing.
“We love old stuff,” Glaser said of being drawn to the historic home, which he said he’ll leave basically untouched.
He and his wife, interior designer Kim Aimee Glaser, have been on the hunt for a new place to call home after selling their Nantucket house two years ago. The couple picked up a waterfront Newport Beach house for $9 million last year, which Glaser, who spent nearly two decades in Nantucket, said wasn’t the right fit.
“The bottom line is my wife, this is her dream house,” he said.
Corcoran’s Susan Breitenbach had the listing.
Glaser, who made a name for himself with audacious spec developments in Miami and Palm Beach, said in 2024 he had shifted his focus to renovations over building from scratch — something he said he’ll look to continue in the Hamptons.
“We’re going to start looking for some stuff to renovate, not to build,” he said of tapping into the Hamptons market. “They don’t want to manage stuff in the Hamptons, and the big builders are building new stuff. So there’s a little pocket that I think I can sneak in.”
The Sag Harbor purchase looks quaint in comparison in comparison to the price tag on one of Glaser’s current projects in Florida. He and his partners bought a waterfront home on North Bay Road for $105 million earlier this year. Glaser currently has the home listed as a flip for $169 million, but has said he is considering redeveloping the property into a $300 million spec home.
