News May 03, 2023
Catalfumo Lands $340M to Build Ritz Carlton Condo in Palm Beach Gardens
Commercial Observer reported that Catalfumo Companies has secured $340 million in financing from Madison Realty Capital to build The Ritz Carlton Residences, Palm Beach Gardens. Situated on a 11-acre site with 850 feet of frontage along Intracoastal Waterway, the project is set to include 106 units across three buildings, as well as a 29-boat slip marina. Since launching sales in February, Catalfumo Companies has already garnered $75 million in sales, with prices for condo units ranging between $4 million and $8 million. “The Ritz-Carlton Residences, Palm Beach Gardens meets the rising demand for luxury residences in the rapidly expanding North Palm Beach real estate market,” Josh Zegen, managing principal of Madison Realty Capital, said in a statement.