The six-story Meridian Building has sold for $5.25 million to Ram, a Palm Beach Gardens development company chaired by Peter Cummings, the Palm Beach Post reported. Ram plans to convert the historic building into apartment lofts with 2,420 square feet of retail on the ground floor. Construction is set to begin in 2013 and be completed by 2014. The building was built in 1926 for Southern Bell Telephone and Telegraph and is located at 326 Fern Street, at the corner of South Dixie Highway.
“We think it’s a unique product that is going to resonate with the market,” Cummings said. “To live in a 1926 building that is going to have high ceilings and unusual windows, it’s going to have a vibe that is very different from new construction.” [Palm Beach Post] – Christopher Cameron