Channel Islands businessman buys unit at The Bristol in West Palm

Units range from about $5M to more than $40M

Sep.September 03, 2019 10:30 AM
The Bristol

The Bristol

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.

They include beauty mogul Sydell Miller, who closed on a full-floor penthouse for $42.6 million in March. Her Palm Beach home is reportedly under contract to sell for more than $110 million.

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.

Related Articles

Huizenga lobbied Rick Scott to secure Opportunity Zone designation for West Palm site

Huizenga lobbied Rick Scott to secure Opportunity Zone designation for West Palm site

Shoppes at Southern Palms

Kohl’s-anchored shopping center in West Palm goes for $24M

Howard Lorber and a rendering of the Bristol

Howard Lorber picks up unit at the Bristol in West Palm Beach

Daily Digest Miami

Heir to Merck pharma fortune sells Palm Beach estate, Brookdale buys back Sawgrass Park portfolio for $80M: Daily digest

345 30th Street, Brandon J. Rex and Evan P. Kristol

Rosen Equities picks up West Palm Beach apartments for $6M

Daily Digest Miami

Ben Carson talks Opportunity Zones, top developers riff on condos vs. rentals: Daily digest

Daily Digest Miami

Quiksilver signs a lease in Miami Beach, Delray Beach’s Atlantic Crossing announces first retail and office tenants: Daily digest

The Bristol and Thomas J. Healey

Financial mogul pays $6.5 million for unit at the Bristol in West Palm