A year after launching the Berkeley condominium project in West Palm Beach, developer Al Adelson and the Morrison family’s Sympatico Real Estate have selected Douglas Elliman Development Marketing to lead sales efforts for the property.
The Berkeley is planned as a 25-story tower with 193 units at 601 and 621 Clearwater Park Road, also known as 550 Australian Avenue. The project covers a 1.9-acre site. Previously, sales were managed internally by Joe Conwell.
According to the release, sales began in December of last year. In September, the development secured a $62.5 million pre-construction loan. So far, about 20 percent of units have been pre-sold.
Arquitectonica designed the building, which will feature residences ranging from two-bedroom to five-bedroom layouts, including four penthouses. Prices start at $2 million and go up to $10 million per unit. Planned amenities include a pool, spa facilities, fitness center, club room, co-working spaces, and a private dining room.
Construction is expected to be completed in 2028.
Adelson partnered with Carlos and Thomas Morrison of Sympatico on this project. The Morrisons are also involved in other local real estate developments such as the Mr. C Hotel & Residences West Palm Beach alongside David Martin’s Terra group. Last year they acquired a 56-unit apartment complex in West Palm Beach for $17 million.
The decision to bring in Douglas Elliman comes as South Florida enters its peak real estate season during winter months. Despite this seasonal uptick, new development condo sales in West Palm Beach have not moved as quickly as some had anticipated.
“The market in South Florida has slowed down a bit. I think anyone you talk to will tell you that,” Adelson said.