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Insurance exec sells Bristol condo in West Palm for $8M
Worth, who owns a mansion in Palm Beach, had bought the condo for $8.8M last year
Insurance executive Peter Worth sold his condo at The Bristol in West Palm Beach for $8.4 million, slightly less than his purchase price last year.
Records show Worth sold unit 1802 at 1100 South Flagler Drive to Norman and Nassrine Traverse. Norman Traverse is a pulmonologist who sold a nearly 2-acre Palm Beach property for $51 million in July.
Christopher Leavitt of Douglas Elliman represented both the seller and buyer in The Bristol deal.
Worth purchased the unit for $8.8 million in November from the developer, the same year the high-rise was completed, records show.
The five-bedroom, 5,181-square-foot condo was listed for $13 million, just a month after Worth’s purchase. After a handful of price reductions, the most recent asking price was $10 million in July. The sale price equates to $1,670 per square foot.
Worth founded American Benefits Consulting, an employee benefits consulting firm, and sold it to Alliant Insurance Services in 2015.
The Bristol, a 25-story, 69-unit building developed by Flagler Investors’ Al Adelson and Gene Golub, is the first new luxury condo building to be delivered in West Palm Beach over the past decade.
Last month, the CEO of a Toronto-based financial services company paid $6.5 million for a condo at The Bristol. Also in August, Angela Koch, the ex-wife of Bill Koch, sold her five-bedroom West Palm Beach home for $5.2 million.