The Real Deal Miami

The Bristol is 40% reserved and under construction

The developer of the West Palm Beach high-rise has contracts worth $210 million

May 14, 2016 11:15AM

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Rendering of The Bristol in West Palm Beach

Rendering of The Bristol in West Palm Beach

The developer has purchase contracts for 40 percent of the units at The Bristol, a luxury condominium development in West Palm Beach now under construction.

Douglas Elliman agent Chris Leavitt, head of sales for The Bristol, told the Palm Beach Daily News that preconstruction contracts to buy units total $210 million and “we are 40 percent sold.” The developer is Al Adelson of Palm Beach Gardens.

A groundbreaking ceremony was held Friday for the 25-story, 69-unit condo building at 1100 South Flagler Drive with unit prices ranging from $5 million to $22 million.

Buyers are required to make a 10 percent down payment when they sign purchase contracts, and another 10 percent is due now that construction is underway.

Among other units, buyers have reserved four of the six penthouses on the 23rd, 24th and 25th floors of The Bristol. [Palm Beach Daily News] — Mike Seemuth