A year after launching the Berkeley, Al Adelson and the Morrison family’s Sympatico Real Estate brought in Douglas Elliman to lead sales for the West Palm Beach condo project.
Adelson, who is known for developing the waterfront Bristol tower in West Palm Beach, and the Morrisons have partnered with Douglas Elliman Development Marketing for Adelson’s latest West Palm condo project, according to a press release. The Berkeley is a planned 25-story, 193-unit tower slated for 601 and 621 Clearwater Park Road, a 1.9-acre site also referred to as 550 Australian Avenue.
Adelson launched sales in December of last year and landed a $62.5 million pre-construction loan for the project in September. The sales team was previously led in-house by Joe Conwell. The tower is 20 percent pre-sold, according to the release.
Designed by Arquitectonica, the Berkeley’s units will range from two-bedrooms to five-bedrooms, with four penthouses. Prices range from $2 million to $10 million. The tower’s amenities will include a pool, spa facilities, a fitness center, a club room, co-working spaces and a private dining room.
Construction is set to be completed in 2028, according to the release.
Adelson teamed up with Sympatico, led by father-son duo Carlos and Thomas Morrison, for the project. The Morrisons are also partners on the Mr. C Hotel & Residences West Palm Beach with David Martin’s Terra. Last year, they dropped $17 million on a 56-unit West Palm Beach apartment complex.
Their partnership with Elliman is timed with the start of the region’s busy season for real estate sales. While sales typically pick up in the winter, market insiders say new development condo sales have moved at a slower pace than expected in West Palm Beach. Adelson acknowledged this in a September interview.
“The market in South Florida has slowed down a bit. I think anyone you talk to will tell you that,” he said.
