WEST PALM BEACH, Fla., Sept. 8, 2025 /PRNewswire-PRWeb/ -- 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.
"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."
Designed by Arquitectonica, led by Bernardo Fort-Brescia, The Berkeley Palm Beach embodies a balance of timeless elegance and contemporary sophistication. The tower features 193 residences, including four penthouses, ranging from two to five bedrooms, with flow-through layouts, soaring 9- to 11-foot ceilings, and expansive east- and west-facing terraces that capture both sunrise and sunset views. Residences are appointed with natural stone finishes, Snaidero kitchens, and floor-to-ceiling glass, seamlessly blending indoor and outdoor living.
"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."
Amenities span multiple levels, thoughtfully curated for every lifestyle. At the ground floor, residents will have access to concierge services, a library, a co-working lounge and pet-friendly amenities. The seventh-floor amenity deck introduces a resort-style pool with cabanas, spa treatment rooms, wellness and fitness facilities, a golf stimulator, and landscaped lawns for yoga and events. At the rooftop, there is a swimming pool and jacuzzi, a sky lounge and bar, private dining with a chef's kitchen, and expansive entertaining terraces with panoramic views of Palm Beach and beyond. In addition, The Berkeley is equipped with a full-building emergency standby generator ensuring safety and comfort during potential weather-related disruptions. Residents will also benefit from UPLIN Health's In-Home Concierge Health Services, providing personalized wellness and medical care in the privacy of their residences.
About The Berkeley Palm Beach
The Berkeley Palm Beach is a 25-story residential tower located at 500 South Australian Avenue in downtown West Palm Beach, overlooking Clear Lake and the city skyline. Designed by Arquitectonica with interiors by Bernardo Fort-Brescia, the building introduces 193 luxury residences, including four penthouses, ranging from two to five bedrooms, each with expansive flow-through layouts, soaring ceilings, and oversized east- and west-facing terraces. The development offers a curated collection of amenities across multiple levels, including a resort-style pool deck, wellness and fitness center with spa treatment rooms, golf stimulator, co-working spaces, concierge services, including UPLIN Health's In-Home Health Services, and a rooftop retreat with a swimming pool and jacuzzi, private dining, and panoramic views of Palm Beach. The property also features a full building emergency standby generator, a critical asset in ensuring uninterrupted services in the event of storms or outages. Developed by Al Adelson, whose precedent-setting project The Bristol established West Palm Beach as a world-class condominium market, The Berkeley continues the city's evolution as a destination for sophisticated urban living. With its premier location, thoughtful design, and comprehensive lifestyle program, The Berkeley Palm Beach represents the next generation of luxury residences in one of the country's fastest-growing markets.
For more information, please visit www.theberkeleypalmbeach.com or contact the sales gallery at 561-220-0000.
Media Contact
Media Contact, The Berkeley Palm Beach, 1 203-962-2893, [email protected], https://www.theberkeleypalmbeach.com/
SOURCE The Berkeley Palm Beach
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