$157 Million Construction Loan Secured for Shorecrest at 1865 North Flagler Drive in West Palm Beach

Related Ross has closed on a $157 million construction loan for Shorecrest, a 28-story waterfront condominium tower planned for 1865 North Flagler Drive in West Palm Beach. Construction financing was provided by GoldenTree Asset Management. With the loan secured, demolition and site preparation are set to commence, with vertical construction anticipated to follow. Completion is projected for 2027.

Situated along the Intracoastal Waterway just north of downtown, the project will rise 28 stories and comprise 98 condominium residences. Units are expected to span primarily two- and three-bedroom layouts, with four residences per floor. Current availability is priced from approximately $3 million.

“The closing of this construction loan marks an important step forward for Shorecrest and speaks to the market’s confidence in the project’s quality, location, and long-term value,” said Bryan Cho, Executive Vice President at Related Ross.

“GoldenTree Asset Management’s commitment reinforces the momentum we’re seeing in West Palm Beach’s luxury residential sector.”

Architecture is being designed by Roger Ferris + Partners, with interiors by Rottet Studio. The building’s façade is described as a contemporary glass and metal composition oriented to maximize views toward the Intracoastal Waterway, the Atlantic Ocean, and Palm Beach Island. The residential floors are configured to provide limited density per level, supporting corner exposures and expansive glazing.

The amenity program is planned to total approximately 18,355 square feet and will include a rooftop pool deck with a 75-foot lap pool, hot tub, and cold plunge, along with spa facilities featuring sauna and steam rooms. Additional offerings are set to include a golf simulator, executive meeting spaces, a private dining room, game lounge, and residents-only services coordinated in partnership with Equinox.

Shorecrest forms part of Related Ross’s broader development pipeline in West Palm Beach. The firm recently topped out South Flagler House, a two-tower waterfront condominium located approximately two miles south along South Flagler Drive, and completed lease-up at The Laurel, a 322-unit rental development at CityPlace. Related Ross has stated that it has committed more than $10 billion in investment across West Palm Beach, including projects along North Flagler Drive and within the downtown core.

Sales and marketing for Shorecrest are being led by Corcoran Sunshine Marketing Group.

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