Kolter, Perko Buy Out Jupiter Island Condo for Redevelopment

South Florida developers The Kolter Group and Perko Development Partners bought out an oceanfront condo building on Jupiter Island, with plans to redevelop the property into luxury condos. It’s the pair’s second such deal in 2025. 

The joint venture paid about $25 million for 11 units at 19930 Beach Road, property records show. The four-story building, called the Beach Sound Condominium, was built in 1984 on a 1.5-acre parcel.

The developers have filed plans to replace the structure with an eight-story condo building with 12 units, designed by SB Architects. The site is at the southern end of Jupiter Island, a narrow, 9-mile-long barrier island about 20 miles north of West Palm Beach.

Following the deadly collapse of the Champlain Towers South condo building in Surfside four years ago, Florida lawmakers passed laws mandating that owners of old condos begin saving up for structural upgrades. Some condo owners are choosing to cut their losses and sell to developers. 

But buyouts remain difficult to close because they require the approval of most, if not all, owners. Last year, two condo owners at Beach Sound Condominium, Edward and Karen Rado, together sued their building’s association and the developers to stop the sale. 

The court rejected the Rados’ request for a temporary injunction, but granted the developers’ petition for an appraisal for the plaintiffs’ unit. The Rados are appealing the motion. 

The buyout marks Kolter and Perko’s second in Palm Beach County. Earlier this year, the developers bought out a condo building in West Palm Beach, across the Intracoastal Waterway from President Donald Trump’s Mar-a-Lago club. Plans for the redevelopment include a 19-story building with 39 condos. 

Representatives for the developers and the Rados’ lawyer, Jonathan Chane of Chane Socarras, did not immediately respond to a request for comment.

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