A developer acquired a 15-acre condo development site in Palm Beach Gardens for $10 million.
FW Yacht Club, a Jupiter-based company managed by Thomas Frankel, purchased the land on the southeast corner of Donald Ross Road and Prosperity Farms Road on Monday, according to Palm Beach County records. Frankel is president of Frankel Development Co. Another Jupiter company, 2700 Donald Ross, sold the site to FW Yacht.
The site has City of Palm Beach Gardens approval for 113 condos, according to Friday’s written announcement from Frankel’s company. It extends to the Intracoastal Waterway and wraps around the Loggerhead Marina.
Frankel Development is a division of Frankel Enterprises, which was founded in 1936 and has developed more than 3,000 luxury homes in Palm Beach County and Philadelphia. — Eric Kalis