Friday, October 16, 2015

West Palm Beach in the Wall Street Journal: "Two Condo Sales Smash Record"

And get this, the building hasn't even been constructed yet which will be called the "Bristol". This is the old Chapel by the Lake site that was razed on Flagler Drive. Candace Taylor at The Wall Street Journal has renderings in this article on the project. Here is an excerpt:
     Also on the Bristol’s 25th floor, a five-bedroom unit sold for about $14.7 million, or $2,395 a square foot. The median price a square foot for a condo in West Palm Beach is just $84 [emphasis added], according to the real-estate website Trulia. Construction of the building won’t begin until next year, Mr. Adelson said. Construction is expected to be completed in 2018.
     Mr. Adelson and his partners on the project, Golub & Co. and Elion Partners, bought the building site for about $23 million. The approval process took more than three years, with residents voicing concerns that the new building could impact their views and lead to more traffic, Mr. Adelson said.