NJ car dealer buys Bristol unit for $11M

The owner of a New Jersey car dealership and his wife paid $10.7 million for a unit at The Bristol condo tower in West Palm Beach.

Robert and Lynda Nitabach purchased unit 1803 at 1100 South Flagler Street from the development group, continuing the trend of record sales for the city.

Nitabach owns Global Auto Mall, a car dealership in Plainfield, New Jersey.

The 25-story, 69-unit luxury 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 development group, Flagler Investors, is led by Al Adelson and Gene Golub. The project is the first new luxury condo building in West Palm Beach in the past decade. The development group has sold almost all of the units and was able to attract estate owners in the town of Palm Beach who were looking to downsize, according to Adelson.

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

This week, the development group sold unit 1404 at The Bristol for $10.7 million to Peter Geoffrey Somers of Jersey in Britain’s Channel Islands.