Palm Beach County condos

Q1 Palm Beach County Real Estate: Luxury Condos are Crushing It

Palm Beach County Luxury Condos Compete with House Ownership

New Q1 numbers suggest Palm Beach County condominium sales continue to grasp record highs. Last December the median cost of a single-family home was $545,000, a 4 percent increase from the same time in December 2021. Meanwhile, the median price of a Palm Beach County condo was $300,000 last December. This is a 14 percent jump from the previous year.

Now, new 2023 quarter one statistics for Palm Beach County’s residential ultra-luxury market continue to paint a rosy picture. According to the Multiple Listing Service’s ads from their participating The Beaches®, Palm Beach Board of Realtors® and Miami Realtors® associations (all of which advertised Palm Beach County properties), in the category of homes priced at $5 million or more, the average median price of Palm Beach County condominium sales rose 14 percent to $7.55 million as compared to Q1 2022’s average of $6.65 million. During those same periods, the median average price of luxury single-family homes in the same $5 million plus category suffered a 16 percent loss.

New waterfront condo construction ignites Florida’s real estate market. Hot point—West Palm Beach

To quote the Wall Street Journal, “Buyers are flipping contracts for a profit, investors are moving in and the skyline is dotted with cranes as developers forge ahead with luxury condominiums to meet demand.” They’re talking about the now-popular West Palm Beach, Florida, which is the largest city in Palm Beach County and one of the fastest growing cities of highest net-worth individuals in the nation.

Prime Coastal Location

It seems the three L’s of real estate—location, location, location—are more important than ever when planning luxury condominium construction. In South Florida, buyers want waterfront access and first-class fun and that’s what Florida developers are giving them with new condo builds that are taking advantage of West Palm Beach’s unique location. In addition to being the biggest and fastest growing city, it boasts exciting newly developed downtown metro areas; it’s beautifully situated on Florida’s southeast coast; and it’s just across the bridge from neighboring, world famous Palm Beach Island

Top Luxury Condominium Amenities

Surveys say… the most desired amenities for top dollar apartments in Palm Beach are rooftop pools, outstanding views, and door-to-beach access. Additionally, unexpectedly spacious rooms including ten-foot ceilings, and resort style services make luxury condo living an attractive option, not only for Palm Beach house-owners who are downsizing and affluent incoming retirees, but also for upwardly mobile professionals undergoing corporate relocation to Florida. While there is a plethora of condominium buildings lining the coasts of Florida, developers and their real estate lawyers are enthusiastically meeting the new high-end real estate demand in Palm Beach County with plans for lavish new builds that combine endless ocean views with luxury resort style amenities.

New Super-sized Towers are Pre-selling Condos—Fast!

If majestic sky-to-ocean views and contemporary styling are the name of the game in new Palm Beach County condo builds, nothing will showcase it better than these glamorous new ultra high-rise tower developments. They all provide valet and concierge services and floor-to-ceiling glass for boundless views and light infused rooms.

  • SOUTH FLAGLER HOUSE opens 2026 with most units pre-sold
    Billed as “A Timeless Waterfront Masterpiece,” and designed by globally renowned Robert A.M. Stern Architects, this 27-floor building will be the tallest in West Palm Beach when completed. The 106 homes at the waterfront address of 1355 S. Flagler Drive will each boast 9.2 thousand square-foot units accessed by two key-operated elevators per residence. The community will have an variety of health and leisure oriented spaces such as a pickleball courts, Pilates, yoga, and private training studios, and a sun shelf pool and landscaped chaise lounge areas. Prices range from $10 million to $70 million-plus.
  • OLARA RESIDENCE opens in 2026, sales launched in January
    Its website hails the seaside community as “Where Life Flows” and the twenty-six floor tower will be located in downtown West Palm Beach at 1919 N. Flagler Drive. As part of a mixed use project, its home-owners will be just steps away from a 30,000 square foot restaurant run by a celebrity chef, a private marina with 6 boat slips, and an epicurean marketplace. Amenities also include 24-hour doorman service, two pool decks, a waterfront veranda and library, multimedia lounge, and a world-class fitness center designed by Wright Fit. Prices range from $2 million to $7 million-plus.
  • NAUTILUS 220 opens in 2023 with 70% pre-sold units
    With literature inviting buyers to “Live Sea to Sky,” this 24 story condominium has been built in Lake Park at 220 Lake Shore Drive in Lake Park and offers a rooftop pool, waterfront restaurant, retail shops, café and professional office suites. Ideally situated adjacent to the Lake Park Harbor Marina, and close to Singer Island, its penthouses have a 2,000 square-foot private rooftop terrace with summer kitchens. Prices range from $1.3 million to $4 million-plus.
  • FORTE ON FLAGLER opens in 2025 and almost sold out in 2022
    Designed by Bernardo Fort-Brescia of Arquitectonica with interiors by Jean-Louis Deniot, the 25 story tower will feature just 40 half-floor residences and one full-floor penthouse residence. The 2,000-square-foot private rooftop deck has a pool, summer kitchen, and cabana bath. The remaining un-presold residences, including the penthouse, are priced from about $14.6 million to more than $47 million, with sales overseen exclusively by Douglas Elliman Development Marketing.
  • LA CLARA opened in 2021 and has sold out
    “In the Heart of the Palm Beaches,” this West Palm Beach condominium is situated just across the bridge from Palm Beach, one of the most prestigious areas of South Florida. Designed by world-renowned architect Siamak Hariri, it has 83 residences in its 25-stories. From its expansive terraces to a its lap pool with daybeds for lounging, the luxury homes are primed to make the most of their coastal landscape. Prices range from $2 million to $5 million.
  • ALBA PALM BEACH opens in 2025 and now has 40% pre-sold units
    Architect Spina O’Rourke’s interpretation of “Waterfront Living Redefined” includes roomy terraces with outdoor kitchens, private elevators, vestibules and boat slips. The 22 story condominium on 4714 N. Flagler Drive on West Palm Beach’s shoreline will house a modest 51 residents. New owners will receive a complimentary membership to the Palm Beach Yacht Club which includes social gatherings and club dining by Executive Chef Robert Lalli. Prices range from $2.5 million to $12 million.

New Mid-rise Condominium Builds Cash In On Ocean Proximity

From new plans to recently opened, these brand new high-rises pair state-of-the-art apartment conveniences with a healthy seaside lifestyle amidst quickly accessed sunshine and surf.

  • Ritz Carlton Residences Palm Beach Gardens scheduled to open 2025
    In addition to Ritz Carlton Residences Singer Island, the company’s latest Palm Beach County development will be situated on the Intracoastal in Palm Beach Gardens where residents will have access to 22 boats slips. Prices range from $4 million to $7 million.
  • One South Ocean–Boca Raton, scheduled to open 2024
    Still in the planning stages, the two 7-story buildings of townhomes and penthouses will have private rooftop gardens and pool. The condos will be located beachside along A1A at 1 South Ocean Boulevard close to Mizner Park, the Boca Raton Resort & Golf Course, and the Town Center Mall.
  • Ocean Delray was just built 2021 and is sold out
    Billed as “The Definition of Modern Luxury,” the brand-new condominium building is the first new build in Delray Beach in 30 years. Located at 1901 S. Ocean Boulevard, the building boasts a 200- foot beach. Prices range from $6 million to $14 million-plus
  • Seaglass was just built November 2022 and sold out by January
    The new 10 story Seaglass is billed as “A Rare Gem in a Perfect Setting” is situated near an additional 10 story luxury building in the works, the Savoy, “The Encore to the Seaglass.” Both were developed by Fontainenbleau Development on Jupitor island. Prices range from $5 to $12 million
  • Amrit Ocean Resort & Residences Singer island just built 2021
    Billed as “Mindful Modern Living,” this 5 star resort-style living is situated in beautiful natural surroundings and offers lifestyle programs. The 16 story condo currently has 87% occupancy. Prices range from $1 to $4 million.

Beachside Boutique Condos Offer Impeccable Service with a Homier Lifestyle

These new boutique condominium buildings may be smaller, but its residents can enjoy the same caliber of luxury resort services as their larger counterparts. With the exception of the rooftop recreational spaces and 50-mile vistas, these new waterfront residences that feature fewer units per build still offer cutting edge interiors and amenities, but on charming, friendlier scale.

Manatee Pointe at Lago Mar scheduled to open 2023 includes a total of only 3 residences that each take up a full-floor of the building. Owners have private boat dockage on the Intracoastal and deeded beach access.

Boca Beach House Residences just built in 2022 is sold out, and was the first new construction condominium east of the Boca Intracoastal in over ten years. Owners receive complimentary memberships to Boca Raton Beach Resort and Club.

1625 Ocean Delray Beach scheduled opens in 2023 was 40% presold before it broke ground. Residents will have a five-star concierge that specializes in premium service including private jets and yachts, and fully serviced pool and beach spaces.

Serving Palm Beach County, the long-established law firm of Florida Bar Board-Certified Attorneys David E. Klein, Esq. and Guy Rabideau, Esq. at Rabideau Klein has an exemplary history of serving the interests of corporations and investors involved in land use and business formation. Contact Rabideau Klein when it’s time to talk about your next real estate closing, or the type of legal oversight your next land use project requires.

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