The Real Deal Miami

Palm Beach philanthropist buys entire 24th floor of West Palm condo

Sydell Miller bought the floor previously marketed as two units at the condo development under construction in West Palm Beach
February 10, 2018 10:15AM

The Bristol condominium under construction in West Palm Beach (Credit: Allen Eyestone / The Palm Beach Post)

Palm Beach philanthropist Sydell Miller bought the entire 24th floor of the Bristol condominium under construction just south of downtown West Palm Beach. Developer Al Adelson, principal of Flagler Investors, confirmed the pre-construction sale to Miller but didn’t reveal the sale price.

The Palm Beach Post also reported that the sale price was approximately $40 million, citing sources in the real estate business. Brokerage firm Douglas Elliman has been handling sales of condo units at Bristol, priced from $5 million to $22 million. The 24th floor of the 25-story condo had been marketed as two units measuring 6,136 square feet and 8,377 square feet.

Construction crews recently topped off the Bristol, a waterfront development at 1125 South Flagler Drive in West Palm Beach. Miller’s purchase of the 24th floor and other recent preconstruction sales have reduced the number of unsold units in the 69-unit building to seven.

Among other philanthropic activities, Miller and her daughters made a $70 million donation to the Cleveland Clinic. She and her late husband founded a line of hair and beauty products called Matrix Essentials, which they sold to Bristol Myers Squibb in 2005. [Palm Beach Post] – Mike Seemuth