The Real Deal Miami

Fidelity’s former general counsel buys condo at the Bristol in West Palm

Flagler Investors to deliver 25-story, 69-unit building early next year
By Katherine Kallergis | July 27, 2018 09:45AM

The Bristol at 1125 South Flagler Drive and Arthur and Vicki Loring (Credit: Dana-Farber)

The former general counsel at Fidelity paid $6.85 million for a condo at the Bristol in West Palm Beach, property records show.

Arthur and Vicki Loring closed on unit 1201 at the 25-story, 69-unit luxury condo building at 1125 South Flagler Drive. The waterfront building is expected to be completed by February of next year, developer Al Adelson said.

The Lorings are among the 20 percent of buyers who purchased raw units at the Bristol.

Such buyers are able to close on units and finish them themselves before the developer completes the other 80 percent of units next year, Adelson said.

Flagler Investors LLC, led by Adelson, sold the condo. Gene Golub of Chicago-based Golub is also a partner in the project.

The developer is holding onto four units and has sold all the others, Adelson said. Units ranged from 3,600 square feet to 14,000 square feet, and from about $5 million to more than $40 million. Palm Beach philanthropist Sydell Miller is among the buyers, purchasing the entire 24th floor of the building. Douglas Elliman is handling sales and marketing.

Construction crews topped off the Bristol in January. It broke ground in 2016 and financed construction with a $206 million loan from the Blackstone Group a year later.