Michigan manufacturing honcho buys condo at The Bristol in West Palm
The unit sold for $1,463 psf
A Michigan manufacturing executive bought a unit at The Bristol in West Palm Beach for $5.6 million, in one of the few resales at the luxury condo tower.
David Brule, president and CEO of Northern Star Industries, and his wife Thu, bought the 3,826-square-foot unit 602 at 1100 South Flagler Drive for $1,463 per square foot, records show. SJBT LLC, led by Salvatore J. Balsamo, sold the condo.
It has three bedrooms and three bathrooms.
The condo last sold for $5.1 million in March 2018, records show.
Northern Star Industries is based in Iron Mountain, Michigan in the Upper Peninsula. The company specializes in manufacturing control panels and electrical relays.
Flagler Investors, led by Al Adelson and Gene Golub, developed The Bristol, a 25-story, 69-unit luxury tower that was completed last year. Units range from 3,600 square feet to 14,000 square feet.
The project marked the first new luxury condo building built 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 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 of 2019. Her Palm Beach estate sold in December for $105 million, tying the record for the largest residential sale ever in Palm Beach.
In September, Miami developer James Harpel also bought a unit at The Bristol for $7.9 million.