Kolter, Perko Unveil $39.7M Penthouse at West Palm's Maison d'Or

Kolter Urban and Perko Development Partners have unveiled a $39.7 million full-floor penthouse atop Maison d’Or, the boutique 19-story, 39-residence tower the partners are developing at 3705 South Flagler Drive in West Palm Beach, pricing the 10,190-square-foot unit at roughly $3,895 per square foot.

Why it matters

The number gives developers and agents pricing new-construction condos along the South Flagler Drive corridor a fresh ceiling to work against. Nearby new towers such as Forte on Flagler and the Ritz-Carlton Residences West Palm Beach have been asking in the $2,000 to $3,000 per square foot range, while South Flagler House’s twin towers list from roughly $7.48 million to $70 million across a wider mix of floor plans. Maison d’Or’s penthouse ask lands well above the corridor’s lower band, a sign that a boutique, low-unit-count format, just 39 residences across 19 floors, can still command a premium over larger towers before the building tops out. Kolter and Perko launched sales on the project in January, with base units starting at $5.7 million.

The numbers

The penthouse spans 10,190 interior square feet with four bedrooms, six full bathrooms and three powder rooms, one of two penthouses in the building. The design team includes 10 Design as architect, Hirsch Bedner Associates for interiors and EDSA for landscape. Sales run exclusively through Maison d’Or Realty Sales LLC, an entity tied to the development rather than an outside brokerage.

What’s next

Maison d’Or is Kolter’s latest West Palm Beach-area move. The American Developer has tracked the company and its partners across eight prior stories since July 9, including a 318-unit annexation Kolter sought on Haverhill Road and $26 million more Kolter spent on Avenir homesites in Palm Beach Gardens, both in the South Florida market. With the project still in pre-construction and no delivery date confirmed by the developer, the marker for competing condo teams to watch is how fast the $3,895 per square foot ask converts to signed contracts once vertical construction begins.