Kolter and Perko Plan Condos Near Trump’s Mar-a-Lago

Kolter Group and Perko Development Partners are buying out an old waterfront condo building that faces President Donald Trump’s Mar-a-Lago compound in order to make space for a new one. 

The proposed 19-story development would include 39 condo units and 1,000 feet of commercial space at 3705 South Flagler Drive in West Palm Beach, a mile across the Intracoastal Waterway from the president’s residence and private beach club, according to a filing to the West Palm Beach Planning Board, which will hear the proposal March 18. 

The 1.43-acre site holds the Flagler House condominium, a three-story, midcentury-style building with 39 units that was built in 1962. 

In July, a majority of the condo owners at Flagler House signed purchase agreements to sell to the South Florida developers, The Palm Beach Post reported. A March application suggests the sale process is moving along, though no deeds have been filed in property records. Representatives for Kolter and Perko did not respond to a request for comment. 

The project would join a growing number of luxury condominiums going up in West Palm Beach as supply on the uber-wealthy Palm Beach island town remains limited. 

Just last week, Savanna secured a $380 million construction loan to complete a luxury residential complex. Construction is also underway for Stephen Ross’s South Flagler House, while another project, called Shorecrest, remains in the pipeline. 

Fort Partners, the owner of all four Four Season properties in South Florida, paid $20 million in December for an aging apartment complex just south of Kolter and Perko’s planned condo. That complex will likely be redeveloped. 

Julia Echikson can be reached at jechikson@commercialobserver.com.