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Two West Palm Beach Condos Crush Records: Over $14M Each

Two condos in West Palm Beach have already broken records, and they don't even have walls up yet.

The penthouses on the 25th floor of the Bristol, which have units as sleek as steel, have views of tony Palm Beach.

According to the WSJ, Chris Leavitt of Douglas Elliman reports that a three-bedroom penthouse is under contract at the original asking price of $14.99 million. The other five-bedroom unit sold for $14.7 million. Formerly, the highest price sale before was $7.42 million at One Watermark Place in 2004.

These units, which are on The Chapel by the Lake site, just moved the bar of luxury a bit higher. There's still a little higher to go. Especially if the 24th floor unit does indeed sell for its ask of $22 million.

The developer, Flagler Investors Inc., have always had headlines or controversy swirling about them. After a residents' group sued the city over the project's approval because it didn't adhere to city rules, Flagler Investors countersued them for project interference. While Flagler agreed to pay $1.1 million in exchange for safe project passage, it seems that the building is on the right track to financial success.

· Two Condo Sales Smash Record for West Palm Beach, Fla. [WSJ]
· New luxury condo replacing Chapel by the Lake rakes in millions [Palm Beach Post]