Related Group and BH Group launched sales of Ritz-Carlton Residences, West Palm Beach, adding to a growing pipeline of planned luxury condo developments in the city.
The 28-story, 144-unit project at 1717 North Flagler Drive will mark the fifth new Ritz-Carlton-branded development that’s planned or under construction in South Florida. The North Flagler project will also be the first branded luxury condo on the waterfront in West Palm Beach, according to Nick Pérez, president of Related’s condo division.
Pérez said the project has received a “tremendous amount of interest over the past few days,” with more than 30 appointments at the sales center since it opened on Friday. The project is accepting reservations that would later be converted to contracts.
The developers tapped Douglas Elliman to handle sales and marketing, according to a press release. Unit prices start at $2.5 million. The units will range from 1,400 square feet to 3,000 square feet, and all will have ocean views.
Arquitectonica is designing the tower, with interiors by the Rockwell Group. Amenities will include a pool and deck, fitness and wellness center, spa and other Ritz-Carlton hotel services, though the project will not include a hotel. The tower will front the Intracoastal Waterway, overlooking Palm Beach.
The development will mark the first Ritz-Carlton-branded building for Miami-based Related Group in South Florida. Other Ritz-Carlton condominium projects in the works include Dan Catalfumo’s development in Palm Beach Gardens; Fortune International Group and Chateau Group’s project in Sunny Isles Beach; Fortune and Oak Capital’s development in Pompano Beach; and the Ritz-Carlton Residences, South Beach, the latter of which is being redeveloped by the Lowensteins’ Lionstone Development, the Kanavos family’s Flag Luxury Group and the Ben-Josefs’ Ben-Josef Group.
Branded condominiums are booming across the region, with the largest concentration in Miami-Dade County and a growing number in West Palm Beach. David Martin’s Terra and the Morrison family’s Sympatico Real Estate plan the 25-story Mr. C Hotel & Residences West Palm Beach at 320 Lakeview Avenue. That project will also include a hotel.
Both Miami-based Related Group, led by Jorge Pérez and his sons, Jon Paul and Nick, and New York-based Related Companies, owned by Stephen Ross, are active in West Palm Beach.
Related Group also plans to develop a boutique waterfront Apogee-branded condo building at 4906 North Flagler Drive. In December, a West Palm Beach board voted to recommend denial of the developer’s plans for that building. Nick Pérez said Related has been meeting with neighbors and is revising its plans for the site. Apogee is a Related brand.
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