A year after launching Berkley, Aldelson and the Morrison family’s Simpatico Real Estate led the sale to Douglas Elliman for a West Palm Beach condo project.
Adelson, known for developing the waterfront Bristol Tower in West Palm Beach, and Morrisons have partnered with Douglas Elliman Development Marketing for Adelson’s latest West Palm condo project, according to a press release. The Berkeley is a planned 25-story, 193-unit tower planned for 601 and 621 Clearwater Park Road, a 1.9-acre site also known as 550 Australia Ave.
Adelson opened the sale in December of last year and landed a $62.5 million pre-construction loan for the project in September. The sales team was previously led in-house by Joe Conwell. According to the release, the tower is 20 percent pre-owned.
Designed by Arquitectonica, Berkeley’s units will range from two bedrooms to five bedrooms, with four penthouses. Prices range from $2 million to $10 million. The tower’s amenities will include a pool, spa facilities, a fitness center, a club room, work spaces and a private dining room.
Construction is scheduled to be completed in 2028, according to the release.
Adelson teamed up with Simpatico, led by father-son duo Carlos and Thomas Morrison, for the project. Morrison is also a partner with David Martin’s Terra at the Mr. C Hotel and Residences in West Palm Beach. Last year, they dropped $17 million on a 56-unit West Palm Beach apartment complex.
Their partnership with Elliman is timed to coincide with the start of the region’s busy season for real estate sales. Although winter usually kicks off sales, market insiders say condo sales have moved ahead at a slower pace than expected in West Palm Beach. Adelson admitted this in a September interview.
“The market has slowed down a little bit in South Florida. I think anybody you talk to will tell you that,” he said.




