Ka-ching: Financial services honcho pays $7M for condo at The Bristol

The developer of The Bristol sold the unit for $1,710 psf

Miami /
Aug.August 28, 2020 03:30 PM
Steven Hudson and the Bristol

Steven Hudson and the Bristol

The CEO of a Toronto-based financial services company paid $6.5 million for a condo at The Bristol in West Palm Beach.

Steven Hudson bought unit 11B at the luxury condo tower at 1100 South Flagler Drive, records show. The developer, Flagler Investors, sold the unit.

Sonja Stevens and Steven Menezes from Douglas Elliman had the listing, according to an online listing. James McCann of Premier Estate Properties represented the buyer.

The 3,800-square-foot condo, built in 2018, has three bedrooms and three bathrooms, according to the listing. The sale price equates to $1,710 per square foot.

The unit was first listed preconstruction in 2015 for $6.1 million. The price increased several times, most recently to $9.3 million in October.

Hudson made a name for himself providing financing for equipment and vehicle dealers shortly after the recession. His company, Element Financial Corp., grew its assets from $20 million in 2011 to $25 billion in 2016 after buying GE Capital’s fleet management business for $8.9 billion in 2015. It became one of the largest fleet management companies in the world. The company split into two separate entities recently, with Hudson heading ECN Capital, which has an office in Boca Raton.

ECN is traded on the Toronto stock exchange and has managed and advised assets of $33 billion, according to its website.

In 2018, Hudson paid $9.8 million for the 7,169-square-foot home at 309 Dunbar Road in Palm Beach.

The Bristol, a 25-story, 69-unit building, is the first new luxury condo building to be delivered in West Palm Beach over the past decade.

Others who have bought condos at The Bristol include Bristol developer Al Adelson, who paid $5.7 million for his unit; Vector Group CEO and Douglas Elliman Chairman Howard Lorber, who paid $6.87 million for his unit; and Sanford C. Bernstein & Co. co-founder Roger Hertog, who paid $13.25 million for his unit.

Last year, beauty mogul Sydell Miller closed on a full-floor penthouse at the Bristol for $42.6 million.


Related Articles

arrow_forward_ios
Conlon & Co's Sean Conlon with 206 Clematis Street (Loopnet, Conlon) 18 Million, West Palm
Sean Conlon pays $18M for historic apartment and retail building in downtown West Palm
Sean Conlon pays $18M for historic apartment and retail building in downtown West Palm
LBCW Investments' Clay Hamlin III with 1100 25th Street and 1426 Skees Road (Loopnet, LBCW)
Industrial play: Alliance HP trades one West Palm complex for another
Industrial play: Alliance HP trades one West Palm complex for another
Pantzer's Jason and Jordan Pantzer with The District Flats apartment complex at 1701 Clare Avenue (Pantzer Properties, Google Maps)
Pantzer pays $78M for West Palm Beach apartment complex
Pantzer pays $78M for West Palm Beach apartment complex
From left: a rendering of the project at 201 Clearwater Drive in West Palm Beach, Starwood Capital CEO Barry Sternlicht, Hyperion Group CEO Rob Vecsler and Winter Properties co-CEO David Winter (Getty, Hyperion, Winter Properties)
Starwood, Hyperion and Winter Properties score $96M construction loan for West Palm mixed-use project
Starwood, Hyperion and Winter Properties score $96M construction loan for West Palm mixed-use project
BGI Companies' Kenneth Baboun, a rendering of Alba Palm Beach and Trez Capital's Ben Jacobson 
BGI scores $82M construction loan for luxury condo project in West Palm Beach
BGI scores $82M construction loan for luxury condo project in West Palm Beach
Jorge Pérez vs Stephen and Louise Kornfeld with a rendering of Icon Marina Village (Related Group, Getty, Wikipedia)
Related Group allegedly jilted investors in waterfront West Palm resi project: lawsuit
Related Group allegedly jilted investors in waterfront West Palm resi project: lawsuit
 Hines' Jeffrey Hines and Robert A.M. Stern with West Palm Beach ( The Boundary with Noë & Associates, iStock)
Hines, Frisbie launch two-tower luxury condo development in West Palm Beach
Hines, Frisbie launch two-tower luxury condo development in West Palm Beach
Current Capital Management’s Todd Nepola and the shopping centers at 2845 North Military Trail in West Palm Beach and 6651 Lake Worth Road in Lake Worth (Todd Nepola)
Todd Nepola buys a pair of Palm Beach County shopping centers for $13M
Todd Nepola buys a pair of Palm Beach County shopping centers for $13M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...