South Florida developer pays $8M for condo at the Bristol
James Harpel is a partner at Eastview Development
Edgewater developer James Harpel snagged a condo at The Bristol in West Palm Beach for $7.9 million.
Harpel, who is a partner at Eastview Development, bought unit 1204 at the luxury condo development at 1100 South Flagler Street from the development group.
Harpel was the managing partner of Harpel Advisory Company, a hedge fund manager, and the managing partner of Century Capital Corporation, a $2 billion registered investment adviser. He is also a partner at Palm Beach Capital, a private equity firm that partners with management teams in middle market buyouts, recapitalizations and growth equity investments.
Eastview Development was a co-developer of Biscayne Beach, a high-end condo in Miami’s Edgewater neighborhood.
Flagler Investors, led by Al Adelson and Gene Golub, developed the The Bristol, a 25-story, 69-unit luxury tower at 1100 South Flagler Drive. Units range from 3,600 square feet to 14,000 square feet.
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 in March. Her Palm Beach home is reportedly under contract to sell for more than $110 million.
This month, the development group sold unit 1404 at The Bristol for $10.7 million to Peter Geoffrey Somers of Jersey in Britain’s Channel Islands. The group also sold a unit to the owner of a New Jersey car dealership who paid $10.7