Al Adelson and the Morrison family’s Sympatico Real Estate have appointed Douglas Elliman Development Marketing to oversee sales for their Berkeley condominium project in West Palm Beach. The decision comes about a year after sales for the development began.
The Berkeley is planned as a 25-story tower with 193 units, located at 601 and 621 Clearwater Park Road on a site also known as 550 Australian Avenue. The project was designed by Arquitectonica and will offer residences ranging from two to five bedrooms, including four penthouses. Prices are set between $2 million and $10 million.
According to the developers, amenities at the Berkeley will 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.
Sales for the Berkeley began in December of last year. In September, the project secured a $62.5 million pre-construction loan. Previously, sales were managed internally by Joe Conwell. As of now, about 20 percent of the units have been sold.
Adelson partnered with Sympatico Real Estate, led by Carlos and Thomas Morrison, for this development. The Morrisons are also involved in other local projects such as Mr. C Hotel & Residences West Palm Beach with David Martin’s Terra and recently purchased a 56-unit apartment complex in West Palm Beach for $17 million.
The collaboration with Douglas Elliman coincides with the beginning of what is typically considered peak season for real estate activity in South Florida. However, industry sources note that new condo developments in West Palm Beach have experienced slower-than-expected sales recently.
“The market in South Florida has slowed down a bit. I think anyone you talk to will tell you that,” Adelson said.
