The Berkeley Palm Beach has closed on a $62.5 million pre-construction loan with New York–based JVP Management, marking a major milestone for the 25-story residential tower planned for 500 South Australian Avenue along Clear Lake in downtown West Palm Beach.
Credit: Gladstone.
“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.”
Credit: Gladstone.
The financing highlights sustained confidence in West Palm Beach, which has emerged as one of the nation’s fastest-growing hubs for luxury real estate, health care, dining, and corporate investment. Institutions such as the Cleveland Clinic and Vanderbilt University’s Graduate Education Campus have established a presence, while Fortune 500 companies and fine-dining operators continue to expand into the city.
Credit: Gladstone.
“We are proud to partner with The Berkeley Palm Beach, a project that reflects both the strength of this market and the caliber of its development team,” said Anthony Shaskus, Head of Credit Strategies at JVP Management. “Our financing, which underscores our confidence in both the execution of this development and the sustained demand for best-in-class residences in West Palm Beach, will support the project through its predevelopment phase, and we hope to provide the construction financing in 2026.”
Credit: Gladstone.
Designed by Arquitectonica, led by Bernardo Fort-Brescia, The Berkeley Palm Beach will rise 25 stories and feature 193 residences, including four penthouses. Homes will range from two to five bedrooms, offering flow-through layouts with 9- to 11-foot ceiling heights and expansive terraces capturing sunrise and sunset views. Interiors will include natural stone finishes, Snaidero kitchens, and floor-to-ceiling glass that emphasizes indoor-outdoor living.
Credit: Gladstone.
“The Berkeley represents the next evolution of West Palm Beach living,” said Bob Ernst, Partner and Development Director of The Berkeley Palm Beach. “With financing secured and the site prepared for construction, we are delivering a residential experience that reflects the sophistication of today’s Palm Beach buyer, from design pedigree to expansive ownership opportunities, all just steps from the cultural, dining, and business momentum that is redefining downtown and beyond.”
Credit: Gladstone.
Amenities will be distributed across multiple levels. The ground floor will feature concierge services, a library, co-working lounge, and pet-friendly offerings. A seventh-floor amenity deck will provide a resort-style pool with cabanas, spa treatment rooms, wellness and fitness facilities, a golf simulator, and landscaped lawns for yoga and events. A rooftop level will include a second swimming pool and jacuzzi, a sky lounge and bar, private dining with a chef’s kitchen, and expansive terraces with views over Palm Beach. Additional features will include a full-building standby generator and UPLIN Health’s in-home concierge services, delivering personalized wellness and medical care for residents.
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