1515 Flager in West Palm Beach, Fla. was demolished through a controlled implosion on Valentine’s Day

Neighbors were delighted to finally see the dilapidated 30-story condominium tower along South Flagler Drive in West Palm Beach come crumbling down on Valentine’s Day.

But real estate analysts and property appraisers say they shouldn’t expect the implosion at 1515 S. Flagler Drive to immediately boost their property values.

Donald Sarley, president of the Appraisal Institute’s South Florida chapter, said: “My best guess is there will be no effect on area properties.”

Sarley, a 30-year residential property appraiser and real estate agent in Florida, said because the building was vacant for five years “any effect probably is already absorbed in the marketplace.’’

Trinity Development Group, the Boston-based developer of the collapsed tower, wants to replace it with a $150 million condo building called the Modern. Plans call for a new 24-story glass tower with 84 luxury condo units, according to Trinity’s Web site. Trinity couldn’t immediately be reached for comment. [more]

For those wondering what next week’s demolition of 1515 Flagler Drive in West Palm Beach will look like, the video above should provide a frightening, yet visually-stimulating preview. The 30-story, hurricane damaged, uninhabited condo tower will be the third-tallest building in the United States to be destroyed by a controlled implosion when it goes down at 9 a.m. Feb. 14.