Financier Sells Bristol Condo in West Palm for $21M
A financier has sold his Bristol condo in West Palm Beach for $21 million.
Records show that in 1901 Robert and Carol Garvy sold the unit in the tower at 1100 South Flagler Drive to John J. Nelson. Nelson and his wife Renee Raudman Nelson funded the purchase with a $12.5 million mortgage from Bank of America, records show.
Douglas Elliman’s Samantha Curry had the listing and Steve Hall of Compass represented the buyer.
Robert Garvy is the founder and former CEO of Intech Investment Management, a West Palm Beach-based asset manager that had $38 billion in assets under management as of late 2021, according to a press release. Garvy also previously served as Chairman of the Board of Trustees at the University of Central Florida.
John J. Nelson is CEO of Warner Pacific Insurance Services, a Westlake Village, California-based company that supports health insurance brokers. Records link the Nelsons to Brookfield Farms LLC, a California corporation founded in 2019.
The Garvys bought the unit for $11.9 million in 2019 when the tower was completed, records show. The unit spans 5,500 square feet and features four bedrooms, four bathrooms, and a half bathroom. It also has a 1,500 square meter terrace.
The Bristol is a 25-story, 69-unit tower developed by Al Adelson of Flagler Investors and Gene Golub. The condos in the building range from 3,400 square feet to 14,000 square feet. When construction was completed in 2019, it made waves as the first new residential tower in West Palm Beach in a decade.
Bristol amenities include two spas, a beauty salon, resident concierge, fitness center, lounge, pool, and dog park.
Beauty mogul Sydell Miller paid a record $42.6 million for a full-floor penthouse at the Bristol in 2019. Miller, who sold her Matrix Essentials hair and beauty product line to Bristol Myers Squibb with her late husband in 2005, bought the entire 24th floor.
Other buyers of the tower ranged from corporations to notable heirs. In December, a Wanxiang America Real Estate subsidiary sold a unit in the building for $12 million, setting a record $3,364 per square foot.
In 2021, the Atlanta-based former vice chairman of First Data bought a condo for $16.5 million. Earlier that year, an heir to the Annenberg publishing family sold his unit in the tower for $7.8 million.