The open parking lot belonging to the Christian Science Church has traded hands. This attractive parcel, one block from the Intracoastal and the Gateway to Palm Beach has just been purchased by The Related Cos.
The Related Cos. which built CityPlace, CityPlace Tower, and the new Hilton next to the convention center has grandiose plans for their new purchase. They’ve hired the architect that built The Freedom Tower in NYC and are looking to construct a soaring 30 story office building that would give its tenants unobstructed views of the Intracoastal, Palm Beach Island, and the Atlantic Ocean.
The church site had many interested parties but The Related Cos. prevailed and were able to ink a deal with the church. This doesn’t mean that the tower is a done deal. The land, currently zoned for 5 stories, will have to work with the city if they are looking to build the tall slender office building that they equate to a lighthouse in West Palm Beach. If you have any real estate questions about this or any other property, please feel free to contact me directly.