The Bristol in WPB on pace for May groundbreaking
Flagler Investors has pre-construction sales totaling $125 million for a dozen units
February 06, 2016 11:00AM
Rendering of the Bristol condominium
The developer of the 25-story Bristol condominium in West Palm Beach has reservations for 12 of the 69 units, the priciest in Palm Beach County.
Among the units reserved are four of the six penthouses at the Bristol, which will rise at 1100 South Flagler Drive in West Palm Beach.
Flager Investors, the developer, has recorded pre-construction sales totaling $125 million for the Bristol, even though its sales center is incomplete and scheduled to open February 18.
The average size of the units is 4,500 square feet and the average pre-construction price is $10 million.
Flagler Investors is requiring a 20 percent deposit to reserve a unit at the Bristol and another 20 percent when construction starts.
Construction is expected to start in mid-May, about six weeks before the contractually mandated July 1 groundbreaking deadline.
Al Adelson of Flagler Investors told the Palm Beach Post that the buyers so far are all North Americans: “Our project has a total of zero Russians buying.” [Palm Beach Post] — Mike Seemuth
Source: The Real Deal