Two more waterfront condo properties in West Palm Beach are attracting developer interest as the redevelopment wave along Flagler Drive continues.
The Regency Surf & Racquet Club at 4500 N. Flagler Drive and Flagler Yacht Club at 3701 S. Flagler Drive are both considering buyout offers that could eventually clear the way for new development.
Regency Receives $100 Million Offer
Owners at the 96-unit Regency Surf & Racquet Club have received a $100 million bulk purchase offer from Miami-based Terra Group.
Terra is also a co-developer of the Mr. C Hotel & Residences project in downtown West Palm Beach.
Flagler Yacht Club Weighs Buyout
The 39-unit Flagler Yacht Club is also considering an offer from an undisclosed buyer.
The waterfront property has reportedly attracted interest from four developers in recent months.
The offers are part of a larger shift along the West Palm Beach waterfront. Nearby Portofino South is considering a $295 million buyout, while Unicorp National Development is under contract to acquire La Fontana for roughly $200 million and plans a luxury hotel and branded condominium development.
For now, the Regency and Flagler Yacht Club deals remain potential buyouts. No new developments have been confirmed for either property.
