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High on his own supply: The Bristol developer buys a unit at his condo tower
Adelson’s unit is on the same floor as Elliman chairman Howard Lorber
Developer Al Adelson liked The Bristol so much that he bought himself a unit there.
Property records show Al and Linda Adelson paid $5.7 million for unit 1604 in the luxury condo tower at 1100 South Flagler Drive in West Palm Beach. Flagler Investors LLC, led by Adelson, sold the condo.
Adelson told The Real Deal that he bought the unit to live in it himself and declined to provide details about the condo.
The 25-story, 69-unit building is the first new luxury condo building to be delivered in West Palm Beach over the past decade. So far, 60 units have closed since the building was turned over to unit owners in 2018. Douglas Elliman handled the exclusive sales and marketing for the project.
Last fall, Elliman chairman Howard Lorber paid $6.87 million for unit 1601.
Adelson and his partner Gene Golub co-developed the building. Units range from 3,600 square feet to 14,000 square feet.
Roger Hertog, co-founded the investment firm Sanford C. Bernstein & Co., and his wife Susan paid $13.25 million for a unit at the Bristol just before the end of 2019.
Other unit owners include beauty mogul Sydell Miller, Miami developer James Harpel and New Jersey car dealer Robert Nitabach.
Adelson is reportedly planning a 16-acre development in Palm Beach Gardens, on Central Avenue between Hood Road and PGA Boulevard.