Now that sales at The Bristol condo in West Palm Beach have topped $300 million, the project’s developer has closed on a $206 million construction loan.
Flagler Investors LLC took the hefty mortgage from BREDS III Loan Holdings Inc., according to public records.
The Bristol is the priciest condo in Palm Beach County history, and it’s proving that wealthy buyers are willing to pay astronomical prices for units on the poor side of the Intracoastal Waterway.
Units range from $1,500 to more than $2,500 per square foot. The typical unit The Bristol is 4,500 square feet and costs $10 million.
The property is just south of downtown at 1112 S. Flagler Drive.