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
Value Store It President Carlos Diaz with the two properties (Diaz)
Value Store It buys two Palm Beach County properties for $35M
Value Store It buys two Palm Beach County properties for $35M
Stephen Ross (Getty) with Esperanté Corporate Center at 222 Lakeview Avenue in West Palm Beach
Related Companies buys half ownership interest in West Palm office tower
Related Companies buys half ownership interest in West Palm office tower
Nicholas and Caroline Rafferty and 6709 South Flagler Drive, West Palm Beach (Getty/Patrick McMullan, Google Maps)
Financial adviser and interior designer buy waterfront West Palm Beach house for $7M
Financial adviser and interior designer buy waterfront West Palm Beach house for $7M
CityPlace Tower and Related Companies founder Stephen Ross (Related, Getty)
Related Companies buys West Palm Beach office tower for $175M
Related Companies buys West Palm Beach office tower for $175M
Joseph J. Plumeri and 1100 South Flagler Drive (Getty, The Bristol)
Former First Data honcho spends $17M for condo at The Bristol in West Palm
Former First Data honcho spends $17M for condo at The Bristol in West Palm
Raanan Katz of RK Centers and Best Buy at 1880 Palm Beach Lakes Boulevard in West Palm Beach (RK Centers and Orion Miami)
Raanan Katz’s RK Centers buys West Palm Best Buy for $12M
Raanan Katz’s RK Centers buys West Palm Best Buy for $12M
UOVO Founder Steven Guttman (UOVO)
UOVO scoops up art storage facilities in Miami, West Palm Beach in $50M buy
UOVO scoops up art storage facilities in Miami, West Palm Beach in $50M buy
Domenic Gatto and Banyan Cay Resort and Club (Linkedin, iStock, Banyan Cay)
Developer of Banyan Cay Resort in West Palm faces charge tied to $65M healthcare fraud
Developer of Banyan Cay Resort in West Palm faces charge tied to $65M healthcare fraud
arrow_forward_ios

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

Loading...