After completing a condo buyout earlier this year, Kolter Group and Perko Development Partners are launching sales for a waterfront condo in West Palm Beach.
Their Maison d’Or project is slated for the 1.4-acre waterfront site at 3705 South Flagler Drive, across the Intracoastal Waterway from President Donald Trump’s Mar-a-Lago Club. It is set to span 19 stories and 39 units, according to a news release. The design team for the project includes global architecture firm 10 Design, interiors firm Hirsch Bedner Associates and landscapes by EDSA, the release shows.
Maison d’Or will have units spanning between two and four bedrooms, and ranging in size from 3,000 square feet to more than 10,000 square feet. Amenities in the building will include a pool, spa facilities, a fitness center, a club lounge, a private dining room, a theater, guest suites and a salon, the release shows.
Prices start at $5.7 million, and the developers tapped Dan Riordan, Nick Peterson and Andreea Fodor to lead sales.
The developers completed a buyout of the former Flagler House, a 1985-built condominium at 3705 South Flagler Drive, in June for $37.6 million.
Homebuilder Kolter is based in Delray Beach and led by CEO Bobby Julien. Jupiter-based Perko, headed by Phil Perko, specializes in condo buyouts and redevelopment. The firms also have a project planned in Tequesta, where they dropped $25 million on a condo buyout in December and are planning an eight-story, 12-unit condo development.
Buyouts are the name of the game in Palm Beach County, where waterfront vacant dev sites are almost non-existent. Competition for buying out aging condos on prime strips like West Palm Beach’s Flagler Drive is hot and dirty. Related Ross and Fort Partners took their fight over one condo to the courts last year. Fort, led by Nadim Ashi, ultimately won control of the waterfront site at 3915 South Flagler Drive. Plans for future development haven’t been disclosed.
Kolter and Perko’s Maison d’Or joins a stacked pipeline of luxury condo projects in West Palm Beach, where more than 2,000 units are in development.
