Developer Todd Glaser has purchased a historic property in Sag Harbor for $16.25 million, according to information he shared with The Real Deal. The home, located at 186 Main Street, was originally built in 1834 by a whaling family and is known as the Hannibal French House.
The house sits on Captain’s Row in Sag Harbor Village and spans 6,500 square feet on just over half an acre. After expansions in the 19th century, Charles Edison—former governor of New Jersey and son of Thomas Edison—acquired the home in 1948 and undertook significant restoration work.
The seven-bedroom, four-bathroom residence features what is said to be Sag Harbor’s only formal ballroom.
“We love old stuff,” Glaser said about his interest in the property. He indicated that he plans to leave the house largely unchanged.
Glaser and his wife, interior designer Kim Aimee Glaser, have been searching for a new home since selling their Nantucket property two years ago. Last year they bought a waterfront house in Newport Beach for $9 million but found it did not suit them.
“The bottom line is my wife, this is her dream house,” Glaser said.
Susan Breitenbach of Corcoran held the listing for the Sag Harbor property while Cody Vichinsky from Bespoke Real Estate represented Glaser in the transaction.
Known for his spec developments in Miami and Palm Beach, Glaser stated that he shifted his focus toward renovations rather than new construction starting in 2024—a trend he intends to continue in the Hamptons market.
“We’re going to start looking for some stuff to renovate, not to build,” Glaser said about entering 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.”
Earlier this year, Glaser and partners acquired a waterfront home on North Bay Road in Florida for $105 million. That project is currently listed as a flip at $169 million; however, Glaser has also mentioned considering redeveloping it into a spec home valued at up to $300 million.
