Abacus Capital Group paid $32.5 million for a multifamily development site within Catalfumo Companies’ mixed-use PGA Station project in Palm Beach Gardens. 

New York-based Abacus Capital bought the site at 3701 Catalfumo Way South, which is approved for a pair of 13-story buildings with a total of 620 units, according to records and real estate database Vizzda. 

Palm Beach Gardens-based Catalfumo Companies, the master developer of the 37.6-acre PGA Station, sold the development site to Abacus. 

The 4.7-acre property now consists of two three-story office buildings completed in 2007 and 2009, according to records. Abacus Capital has recorded a notice of commencement of demolition. 

Catalfumo, led by Daniel Catalfumo, scored approval in…

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Related Ross announced several new office leases for its West Palm Beach buildings, including three for its newest property, the 25-story One Flagler office tower facing the Intracoastal Waterway.

The leases, spanning the finance, technology and professional service fields, reflect the "strong demand" for new, highly-amenitized office space, according to Jordan Rathlev, senior vice president of Related Ross, based in West Palm Beach.

The transactions also further reinforce the county's transformation into "Wall Street South," a hub of financial and corporate offices that began forming 15 years ago but that has grown dramatically during and after the COVID pandemic.

Related Ross is led by Stephen Ross, owner of the NFL's Miami Dolphins and a…

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Vision for Broadway: 6 Stories Not 30

Planners rolled out proposed new rules last week for future construction along West Palm Beach’s distressed Broadway corridor.

Why it matters: If the march of redevelopment reaches the busy street, it has the potential to destroy its urban character.

What’s happening: The city’s Community Redevelopment Agency hired planners Dover Kohl of Coral Gables to modify the development code for the area from 26th Street north to the city limit.

Goals include:

  • Redesigning Broadway to make it safer for pedestrians and bicyclists.

  • Encouraging affordable housing.

  • Attracting and marketing businesses.

What they’re saying: “Our goal is to make the ordinance to guide the neighborhood…

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The village has given initial approval to a master plan for the old Twin City Mall site that makes a counteroffer of sorts to the developer who wants to build a complex of restaurants, retail spaces and high-rise residences there.

North Palm Beach will allow Cypress Realty to construct buildings of seven stories along U.S. 1 and 14 stories in the middle of the 13-acre site off Northlake Boulevard, not the nine the developer originally proposed for the project, known as Village Place.

In return, Cypress must agree to include enough “public benefit” — which might include workforce housing, sustainable building certifications and public art — before the Village Council votes on the plan a second and final time. That vote could happen in September,…

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 Northern Palm Beach County is changing from a patchwork of middle-class suburbs along Interstate 95 to a place that looks more like a city that carries big-city prices, often paid by wealthy new residents to South Florida.

Plans before governments from Tequesta to Lake Park show developers are interested in taller buildings, especially east of the highway. Many would house hundreds of market-priced apartments — renting for $2,500 per month or more — built with retail and office spaces, turning pockets of available land into mini-downtowns. 

Other high-end developments geared to new, wealthy residents are rising beyond Florida’s Turnpike, led by Avenir at the western edge of Palm Beach Gardens. It will bring more than 4,000 luxury-priced homes to…

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Larry Ellison is purchasing a luxury hotel in the same Palm Beach area enclave where he dropped $173 million on a residential compound two years ago. The billionaire Oracle Corp. co-founder bought the Eau Palm Beach Resort & Spa for an undisclosed amount, according to a statement. The resort was sold by the Lewis family, who purchased it in 2003. 

The property, just south of Palm Beach in the town of Manalapan, dates back to the 1950s and was originally known as La Coquille Club. It has long been a retreat for prominent families, including the Vanderbilts, Fords and Rockefellers. Read More: Larry Ellison’s Hawaii Paradise Is Infuriating Locals. The purchase adds to Ellison’s sprawling real estate holdings, which span South Florida, Malibu and the…

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In just one year, the $1 billion Nora dining, retail and entertainment district in West Palm Beach has gone from shovels in the ground to a project now months away from opening its doors.

It's a fast start for the largest planned redevelopment in the city's history since CityPlace.

Nora officials say the pace reflects the continued interest by companies, retailers and even hoteliers in planting a flag in this coastal city. At least a dozen retailers are signed for the project, including seven restaurants.

And Nora officials aren't just letting anyone lease space in the project.

"I went through 37 coffee shops until I found the one I thought was the right fit," said Nora's leasing director, Francis X. Scire.

In June, the company…

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Related Group, BH Group, and Tezral Partners revealed plans for a 20-story apartment building near the public marina and park in Riviera Beach.

The developers recently filed plans for the Gallery at Marina Village on the 2.45-acre site at 1300 Broadway/U.S. 1. It would feature 418 apartments with 328,510 square feet of rental space, 3,300 square feet of retail, 3,000 square feet of office/retail and 652 parking spaces.

Amenities would include a pool, a club room and a health club.

The apartments would range from 490 to 1,195 square feet, with an average size of 786 square feet. There would be 38 studio apartments, 152 one-bedroom units, 190 two-bedroom units, and 38 three-bedroom units.

The redevelopment of Marina Village is a long-running…

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South Florida has long been a magnet for tourists, retirees, and snowbirds, but in recent years, it's also become a hotbed for commercial real estate investment. From Miami's glittering skyline to the bustling streets of Fort Lauderdale and the picturesque coastlines of West Palm Beach, commercial real estate in South Florida is experiencing an unprecedented boom. Here's why this market is thriving and what it means for investors and businesses alike.

1. Economic Resilience and Growth

South Florida's economy has shown remarkable resilience and growth, even in the face of global economic challenges. The region's strategic location as a gateway to Latin America and the Caribbean, combined with its diverse industries—ranging from tourism and…

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Five financial firms with billions in assets were among the latest tenants who signed up for office space in a 25-story tower that's still under construction in downtown West Palm Beach.

One Flagler at 154 Lakeview Ave. is slated to be completed later this year, a spokeswoman for the project's developer, The Related Cos. said.

Although still under construction, 75% of One Flagler's 270,000 square feet of office space is pre-leased, the spokeswoman said. Previously announced tenants include Chicago private equity firm GTCR, which will occupy about 26,000 square feet of office, as well as Diameter Capital Partners, Siris Capital, and First Republic Bank. Greek restaurant Estiatorio Milos by Costas Spiliadis will occupy 10,000 square feet on…

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