A coal heir bought a Bristol condo in West Palm Beach for $14.9 million, more than double its previous sale price five years ago.
Records show John W. Rich Jr. bought unit 1401 at 1100 South Flagler Drive from Raymond Richards.
Samantha Curry of Douglas Elliman had the listing, and Antoinette Vigilante with Sotheby’s International Realty brought the buyer.
Rich is the son of the late John W. Rich Sr., who was the longtime head of Pennsylvania-based mining firms Reading Anthracite Company and Gilberton Coal Company, according to his obituary.
The seller, Richards, sold his telephone company to AT&T in 1994, according to published reports. He bought the condo for $6.9 million in 2020, property records show. The 4,500-square-foot unit has three bedrooms, four bathrooms and one half-bathroom.
Developers Al Adelson and Gene Golub completed the waterfront 25-story, 69-unit Bristol in 2019. The tower’s amenities include a dog park, salon, two spas, a gym, pool and lounge.
Richards listed his condo for $17.5 million in March of last year, according to Zillow. The sale price is more than double his purchase price five years ago.
Since its completion, the Bristol has attracted a slew of high-profile buyers. In April, the estate of late Boston real estate mogul and art collector Gerald Fineberg sold his penthouse for $28 million. In 2023, an intellectual property lawyer bought a unit for $19.8 million, setting a price-per-square-foot record for the condominium.That same year, Motorola heir Christopher Galvin and his wife, Cindy Bardes Galvin, listed their Bristol condo for $29 million. It has yet to sell, and the current asking price is $22.9 million, Zillow shows.
