Former Wall Street honcho buys condo at the Bristol in West Palm

Flagler Investors to deliver 25-story, 69-unit building early next year

Miami /
Aug.August 16, 2018 03:30 PM

The Bristol

Former Wall Street honcho Donald C. Carter just bought a condo at the Bristol in West Palm Beach for $6.75 million, property records show.

The waterfront building at 1100 South Flagler Drive is being developed by Al Adelson and Gene Golub of Chicago-based Golub. Records show Carter, listed as a trustee of the Donald C. Carter 2014 Trust, bought unit 904.

He joins Arthur Loring, the former general counsel at Fidelity, at the 25-story, 69-unit luxury condo tower. Loring, his wife Vicki, and philanthropist Sydell Miller, are among the 20 percent of buyers who purchased raw units at the Bristol. The tower is expected to be completed by February of next year.

Units at the luxury condo building range from 3,600 square feet to 14,000 square feet, and are priced from about $5 million to more than $40 million. Douglas Elliman is handling sales and marketing. Construction crews topped off the Bristol in January. It broke ground in 2016 and its developers financed construction with a $206 million loan from the Blackstone Group last year.

Carter founded the the proxy solicitation firm the Carter Organization, which he sold for nearly $100 million in 1987 to VPI Group, a British public relations firm. In 1990, he resigned as CEO amid an investigation into the business. At the time, New York state prosecutors alleged Carter over-billed clients and charged personal expenses to the company. In its heyday, the Carter Organization helped foster a generation of corporate raiders like billionaire Carl Icahn, according to the New York Times.

In 1998, a New York state judge tossed Carter’s conviction, according to a Wall Street Journal report, saying prosecutors had concealed information that could’ve helped Carter’s defense. The firm is now defunct.

Carter is no stranger to Palm Beach County. In 2016, he sold his waterfront compound at 6 Lagomar Road in Palm Beach for $12.5 million.


Related Articles

arrow_forward_ios
Phillips Point office towers with Related’s Stephen Ross (JLL, Getty)
Related Cos. closes on West Palm office towers for $282M
Related Cos. closes on West Palm office towers for $282M
(iStock)
South Florida resi sales jump in Q4: Elliman
South Florida resi sales jump in Q4: Elliman
303 Banyan Boulevard, West Palm Beach (Google Maps)
Woodfield buys land, scores $47M construction loan for West Palm multifamily tower
Woodfield buys land, scores $47M construction loan for West Palm multifamily tower
Phillips Point office towers with Related's Stephen Ross (JLL, Getty)
Related Cos. to pay $282M for West Palm Beach office towers
Related Cos. to pay $282M for West Palm Beach office towers
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Hyperion Group CEO Rob Vecsler and 350 South Australian Avenue (Google Maps, M18 PR)
West Palm Beach multifamily project advances
West Palm Beach multifamily project advances
Kolleen OP Cobb and 591 Evernia Street (FECI, Google Maps)
New York Life buys Brightline West Palm apartments for $115M
New York Life buys Brightline West Palm apartments for $115M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...