The Berkeley Palm Beach has closed on a $62.5 million pre-construction loan with New York-based JVP Management, marking a significant milestone for the 25-story, 193-residence development rising on Clear Lake in downtown West Palm Beach.
“This milestone is more than financing; it is validation of West Palm Beach’s extraordinary trajectory,” said Al Adelson, Developer of The Berkeley Palm Beach and The Bristol. “The Bristol set the standard for high-rise living here in 2019, proving that Palm Beach buyers were ready for world-class, high-rise living. The Berkeley builds upon that legacy, bringing refined design, expansive amenity offerings, and a lifestyle that reflects the city’s transformation into a global destination.”
The loan reflects continued confidence in West Palm Beach, one of the nation’s fastest-growing hubs for luxury real estate, health care, dining, and corporate investment. The city has attracted leading institutions such as the Cleveland Clinic and Vanderbilt’s “Graduate Education Campus,” alongside a wave of new fine-dining concepts and Fortune 500 companies establishing headquarters and satellite offices, reinforcing its position as a dynamic center for both lifestyle and business growth…