Garment magnate Richard Kringstein and his wife Andrea paid $7 million for a unit at The Bristol in West Palm Beach.
Kringstein bought unit 1402 at 1100 South Flagler Drive in West Palm Beach from the development group. The 25-story, 69-unit tower’s condos range from 3,600 square feet to 14,000 square feet, priced from about $5 million to more than $40 million.
Kringstein is the co-owner of the Herman Kay Company, which makes women’s and men’s outerwear and apparel. Its clients include Michael Kors, London Fog and Anne Klein, according to its website.
The Bristol is the first new luxury condo project to be built in West Palm Beach in over a decade. The development group, Flagler Investors, is led by Al Adelson and Gene Golub.
Adelson previously told The Real Deal that the luxury condo tower 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.
In July, 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.