25-Story Berkeley Tower in West Palm Beach Breaks Ground

Key Points:

• 193 luxury condos planned at The Berkeley Palm Beach, ranging from 2,500 to 4,800 ft², with average pricing around $3.5 million.

• Developer Al Adelson and Sympatico Real Estate secured $30 million in construction financing from WPC US LLC in May 2025.

• Part of a broader West Palm Beach luxury boom, driven by financial sector growth and rising in-migration 

Construction is now underway on The Berkeley Palm Beach, a 25-story high-rise condo set to redefine luxury living at 500 South Australian Ave in downtown West Palm. This premium development promises sun‑soaked views, upscale finishes, and high-end amenities—cementing its place amid the city's accelerating CRE renaissance. 

Developer & Site Background

• Developer Profile: Spearheaded by Al Adelson, best known for the nearby Bristol tower (2019), working in partnership with Sympatico Real Estate.

• Land Assembly: Adelson acquired the combined 1.92-acre site in 2021–22 for a total of $13.8 million, breaking ground in December 2024.

• Financing: A $30 million loan was arranged in May 2025 through WPC US LLC (also known as Windsor Private Capital), covering construction costs.

Project Details

• Unit Mix: 193 residences—two-bedrooms begin at 2,500 ft²; five-bedrooms up to 4,800 ft².

• Pricing: Starts just under $2 million with an average of approximately $3.5 million per unit.

• Design & Amenities:

  • Architect: Arquitectonica, featuring light‑filled east–west layouts with sunrise and sunset vistas.

  • Units outfitted with Italian Snaidero kitchens, spa-style bathrooms, and smart-home tech. Many include bonus rooms suitable for offices or media. A furnished model residence is available for tours.

  • Amenities span multiple levels: 7th-floor family pool, spa, fitness and teen areas; rooftop adult pool, cigar lounge, nightclub, golf simulator, markets, concierge, and valet services.

Location & Market Context

• Prime Spot: Just west of The Square/CityPlace, with fast access to I‑95 and PBIA, and excellent connectivity to Palm Beach Island via Australian Avenue. Neighbors include Kravis Center, Cleveland Clinic, Ross HQ, and forthcoming Vanderbilt graduate campus and Eataly.

• Local Surge: West Palm Beach is in the middle of a CRE wave—fuelled by financial and tech executives relocating, near-record low retail vacancy, and rising demand for luxury housing.

• Market Snapshot: Despite a general cooldown in overall housing ตลาด (values down ~3.4%, rising inventory), luxury and new‑build segments are buoyant. High-end properties are mostly cash-driven, especially with rates near 6–7%.

The Big Picture for Investors

• Luxury Resilience: The ultra-luxury condo market continues strong, with buyers undeterred by macro hurdles—especially cash-ready affluent buyers .

• Catalyst Project: The Berkeley builds on the success of The Bristol and sets a new bar with larger units and enhanced amenities.

• Neighborhood Transformation: North Australian Avenue is emerging as a premium corridor—Ross’s 70-acre “Wall Street South” plan and related developments reinforce investor confidence.

With high-end finishes, sweeping vistas, and top-tier amenities, The Berkeley Palm Beach is poised to become a marquee asset in West Palm Beach’s luxury real estate skyline. As the city attracts finance firms, academic institutions, and affluent demographics, this development reinforces a key trend: upscale new-construction condos remain a strategic play—especially for investors targeting growth in CRE and rental upside.