The condo located at 3705 South Flagler Drive encompasses 1.43 acres in the West Palm Beach market. The asset comprises 38 units and was sold for a total of $37,550,000, resulting in a price per unit of $988,158. The acquisition involved controlling the waterfront site that houses the aging Flagler House condo.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $37,550,000
• Units: 38
• Price Per Unit: $988,158
• Buyer: Bobby Julien - Kolter Group
• Buyer: Phil Perko - Perko Group

Bobby Julien and Phil Perko, representing Kolter Group and Perko Group respectively, have decided to terminate the condo association following their acquisition. They plan to redevelop the property into an 18-story tower consisting of 39 luxury units and ground-floor retail space.