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In Market

Luxury Serviced Apartments Head to London’s Mayfair District; Developer Announces Plans for Ritz-Carlton Residences, Sarasota Bay

By: Ameena Walker

In West Palm Beach, Waterfront Condominium Sells for Record $12 Million

The 14th-floor residence at The Bristol, a 25-story condominium tower in West Palm Beach, has recently sold for just over $12 million, making it one of the city’s priciest apartment sales this year, Mansion Global reports. The three-bedroom home was sold by Chicago-based developer Wanxiang America Real Estate and purchased by an unidentified buyer, who acquired the property through a trust. The abode spans 4,200 square feet with marble flooring throughout and direct ocean and intracoastal views from the living and dining rooms, master suite, and kitchen.

The sale was a record for the building and the highest price paid per square foot in West Palm Beach ever, at $3,364 per square foot.

Luxury Serviced Apartments Head to London’s Mayfair District 

Property investor Sameer Gehlaut has announced plans for Amberley, a new luxury serviced apartment brand in London’s Mayfair District that will combine five-star hotel services with residential living, Business Mondays reports. Amberley residences will debut at Clivedale’s Mandarin Oriental Mayfair in Hanover Square in spring 2023 and will feature a selection of studios through four-bedroom apartments for stays anywhere between two weeks to one year.

Adjacent to the 45 Park Lane hotel, the Mayfair Park Residences will be the first apartments in the Amberley brand to launch and will be managed exclusively by luxury hotel operator Dorchester Collection. Guests will also be able to access the full suite of hotel services through the Dorchester Collection, in addition to the amenities at 45 Park Lane.

Developer Kolter Urban Announces Plans for Ritz-Carlton Residences, Sarasota Bay 

One of the Ritz-Carlton’s newest branded residences is headed to Florida’s Sarasota Bay neighborhood and is being developed by investment firm Kolter Urban. The waterfront tower will rise 20 stories, with 78 residences spanning from 3,500 to 6,000 square feet in three- and four-bedroom configurations. Per Haute Residence, SB Architects will design each home, and building amenities will boast three pools, a fitness and wellness center, a sports lounge, and an outdoor dog park. 

“On the heels of the overwhelming sales success and 2021 delivery of The Ritz-Carlton Residences, Sarasota, we could not be more delighted to introduce another luxury address under the legendary Ritz-Carlton brand,” said Bob Vail, President of Kolter Urban. The development will also feature a boardwalk, marina, shopping center, and restaurants.

West Palm Beach Approves 300-Foot Waterfront Olara Towers

Olara—the two-building complex by Miami-based Arquitectonica that will reach 28 stories along West Palm Beach’s waterfront North Flagler Drive—has gained approval from the city’s planning board to rise more than 300 feet. According to Yahoo, the development is the first to be approved under new rules that allow construction of taller buildings in exchange for assisting the city to make improvements to the Currie Park area. As part of the agreement, New York-based real estate investment manager Savanna agreed to donate $3.62 million to Currie Park.

The pair of buildings will offer 485 residences; 315 will be condominiums, and the remaining 170 will be rentals. Apartments are expected to come in one- through four-bedroom configurations, ranging from 1,000 to 5,000 square feet, with interiors by INC Architecture & Design and Gabellini Sheppard Associates.

Jonathan Landau Announces First Miami Project, Following Landau Properties Launch 

After launching his new firm Landau Properties, veteran real estate executive Jonathan Landau has teased plans for his first Miami development, set to rise in the city’s exclusive Bay Harbor Islands. The yet-to-be-named project will take shape at 9110 West Bay Harbor Drive and will offer just nine luxury residences and a private yacht club. Presales are expected to launch at an unknown price point in 2023, and construction is slated to begin in May 2023.