A Palm Beach dermatologist paid $5.6 million for a condo at The Bristol in West Palm Beach.
Dr. Samuel Mandel and his wife Annette bought condo unit 1103 at 1100 South Flagler Drive from the development group Flagler Investors. The 25-story, 69-unit tower’s units range from 3,600 square feet to 14,000 square feet, priced from about $5 million to more than $40 million.
Mandel and his wife are well-known art collectors and also have owned property in New York City.
The Bristol is the first new luxury condo project to be built in West Palm Beach in over a decade. Flagler Investors is led by Al Adelson and Gene Golub.
Adelson previously told The Real Deal that the luxury condo is nearly sold out, except for two units that it will sell at a later date. A large portion of the sales have come from former estate owners in Palm Beach who were looking to downsize or wanted to move into a condo, according to Adelson.
Buyers at the Bristol include beauty mogul Sydell Miller, who closed on a full-floor penthouse for $42.6 million in March. Recently, real estate developer Stuart Bernstein and his wife Wilma paid $5.3 million for unit 803 at the luxury condo development.
In late June, Washington, D.C. parking garage mogul Irwin Edlavitch and his wife paid $5.6 million for unit 1203 at The Bristol.