A British businessman bought a unit at The Bristol in West Palm Beach for $10.7 million as the luxury condo development continues to set pricing records for the city.
The development group sold unit 1404 to Peter Geoffrey Somers of Jersey in Britain’s Channel Islands. The 25-story, 69-unit tower at 1100 South Flagler Drive has units ranging from 3,600 square feet to 14,000 square feet, priced from about $5 million to more than $40 million.
The condo tower, built by Flagler Investors, marks the first new condo building in West Palm Beach in over a decade. Douglas Elliman handled sales and marketing of the units.
The developer previously said a majority of the units were sold to former estate owners in Palm Beach who are looking to downsize or wanted to live in a condo.
Real estate developer Stuart Bernstein and Washington, D.C. parking garage mogul Irwin Edlavitch also purchased units at the Bristol.
Flagler Investors financed construction of the building with a $206 million loan from the Blackstone Group. Solomon Cordwell Buenz and Revuelta Architecture International are the architects for the project.