Where the Project Stands
The building page carries the project's short record. The Australian Property Group broke ground on the 1.92 acre Clear Lake site in December 2024, and 2025 brought foundation work plus two financings, construction money from Windsor Private Capital in May and pre-construction financing from JVP Management in September. The developer projects vertical construction through 2026, topping off in 2027 and completion alongside the planned Fern Street Extension, a new road connection meant to tie the site into downtown. One milestone is recorded. The rest are the developer's projections, and projections move.
The names behind the schedule carry a local record. Al Adelson, who leads the developer, was pivotal in developing The Bristol on South Flagler Drive, completed in 2019, where he still serves as vice president of the board. Bob Ernst serves as development director, and Timothy Desmond of Geiger Properties, who also worked on The Bristol, consults on the project. The sales gallery sits on the 9th floor of 500 South Australian Avenue, and the gallery works for the developer. Buyer representation is a separate seat at that table, and the developer pays our fee.
The Window the Statute Opens
Florida's condominium statute gives the buyer of a new unit fifteen days to rescind after signing and receiving the condominium documents. No reason needs stating and no penalty attaches. After the window closes, the developer's agreement governs the long wait to delivery, so give the days to the documents with force. The unit plan and the specification schedule the contract attaches decide your square footage and finishes, and nothing in the brochures adds to them. A rendering is an argument, not an obligation.
Two clauses deserve your attorney's particular attention. The first is the outside completion date and its remedies, which matter more than any marketed year. The second is the deposit schedule, because purchases here run on instalments tied to construction milestones through to closing, and Florida law sets escrow requirements for pre-construction deposits. Confirm the schedule and the escrow arrangements inside the agreement, not across the sales desk.
The Numbers Not Yet Written
Two figures a buyer would most want to model do not exist yet. Association fees have not been published, and buildings of this class in West Palm Beach assess monthly on a per square foot basis, with the 40,000 square foot amenity program and the full building generator among the loads the final budget must fund. Request the proposed association budget during the contract review period and put a real number in the arithmetic before the window closes.
Rental policy is the second blank. The provisions have not been published, and the version that binds the building arrives with the declaration of condominium, so an owner who intends to lease should read that document before contract rather than after closing. The carrying costs themselves start at closing, not at contract. Dues, taxes and insurance begin when title passes, so budget them from the delivery date forward.
Property tax belongs in the same review. Palm Beach County assesses at the combined county, city and school millage on assessed value, and Florida's homestead exemption rewards a genuine primary residence with a reduction in assessed value and a cap on annual increases. A buyer relocating from another state should time the domicile change with a tax advisor, because the former state's rules on the move matter as much as Florida's.
Selling Before Closing
Assignment deserves a written answer even from a buyer who never expects to use it. Many developers restrict resale and assignment before closing, and the building page says so plainly, so anyone who values flexibility should have the position confirmed inside the agreement before signing.
Nothing at this address has ever resold, and no one can honestly price a building with no history. The first owners will write that record, and the market they eventually sell into, not this year's contract sheet, will set the numbers. The Bristol, the developer's earlier tower, has carried a resale record since 2019, and the two buildings serve different segments, so even that history is context rather than proof.
What Is Published Now
The developer's sheet opens at $1.9M and runs past ten million. Six listings sit on the open feed this week, from $3.7M for a fourth floor three bedroom to a $12.75M penthouse, and the median ask across the six is $5.3M. The page also notes the building is early in its release cycle, where inventory moves before it is advertised, so the open list understates what a gallery visit can show.
Every figure is an asking price. Nothing has recorded, so the sheet is the developer's stated position rather than a market's verdict. The county pipeline holds the field around it, and our guide to the same diligence at the Ritz-Carlton Residences shows how these checks read at a branded tower targeting the same delivery year.
The building page's live feed, September 2026. Median asking price $5.3M across the six, and no sale has recorded at the building.
Bottom Line
The diligence file here is thinner than the marketing file, which is normal for the stage and is exactly why sequence matters. The recorded facts are a groundbreaking, two financings and a published plan set. The governing facts are an outside date, a deposit schedule and budgets that do not exist yet. A buyer who works the paper in that order buys the same residence with fewer surprises at delivery.
Before the window closes: have your attorney read the outside date, the deposit schedule and the escrow terms against the statute. Until the tower delivers, the paperwork is the product.
Project facts, dates, financings and the published listings follow our The Berkeley building page as of September 2026. The construction timeline past groundbreaking is the developer's projection, and the purchase agreement's provisions control every term.
Florida's fifteen day rescission period for new condominium purchases and the escrow treatment of pre-construction deposits come from the state's condominium statute and are described at a general level. Your attorney confirms every amount, date and remedy for your agreement.
The building has no recorded closing, so every price here is an asking figure. As real estate agents we coordinate with your counsel and are compensated by the developer at this project.
This is buying-process guidance, not legal or investment advice.
The Berkeley building page on this site, September 2026: the timeline, the financings, the deposit guidance and the open feed.
Florida's published condominium framework, sections 718.503 and 718.202.
Palm Beach Luxury: The Berkeley, West Palm Beach's Family Tower, together with the county new-development pipeline.
