Developers of The Bristol are racing toward completion of the ultra-luxury condominium in downtown West Palm Beach.
At the end of July, construction trailers will be removed so landscaping can begin at the site. When buyers start returning to the Palm Beach area around October, they’ll see quite a different look to the multi-million dollar project, at 1112 S. Flagler Dr.
The Bristol, a 25-story, 69-unit property, is the most expensive condominium ever built in Palm Beach County. Units selling for an average of about $2,000 per square foot, developer Al Adelson said. The average size of units is 4,500 square feet and an average price is about $10 million.
But bigger units have sold.
In fact, Palm Beach philanthropist Sydell Miller purchased the entire 24th floor. The floor’s two units were listed separately for a combined price of $44.13 million.
Plans are to finish The Bristol by February or March, barring any hurricanes, Adelson said.
Work now is underway on individual buyer units, as tradespeople fill the building with marble, lighting and all manner of luxury amenities.
Meanwhile, plans are underway to demolish an old apartment building nearby to make way for a climate-controlled garage for The Bristol. Even though The Bristol has a parking garage within the property, it seems that buyers have more than two cars per unit. And staff, including housekeepers, need a place to park, too.
The garage will be built in August at 901 S. Flagler, a property owned by First Baptist Church. The Bristol will lease the garage once it is built.
About four or five units at The Bristol remain unsold, but Adelson isn’t eager to sell them. He figures they will sell for a higher figure once the building is open.