Related Companies purchases South Flagler House in West Palm Beach

Related Companies today announced the purchase of the development site for South Flagler House, located along the Gold Coast in West Palm Beach, Florida, from global real estate development firm Hines and Palm Beach-based real estate investment firm Frisbie Group. The deal, which closed today, is an exciting milestone for South Flagler House, which will offer an unparalleled luxury residential experience in the Palm Beaches. Related Companies will lead the development of the project which will continue their longstanding partnership with the globally renowned architecture firm, Robert A.M. Stern Architects (RAMSA), spanning more than two decades and 17 buildings across the country. One of the country’s top agents, Suzanne Frisbie, will continue leading sales.

South Flagler House will be RAMSA’s first luxury residential high-rise in Florida with interiors by Pembrooke & Ives. South Flagler House features two elegant, 28-story structures rising from a base lined with stepped gardens. The architecture will blend with the timeless character of Palm Beach, while celebrating a prime waterfront location just south of downtown West Palm Beach providing permanent unobstructed views of the Intracoastal and Atlantic Ocean.

South Flagler House will be RAMSA’s first luxury residential high-rise in Florida with interiors by Pembrooke & Ives. South Flagler House features two elegant, 28-story structures rising from a base lined with stepped gardens. The architecture will blend with the timeless character of Palm Beach, while celebrating a prime waterfront location just south of downtown West Palm Beach providing permanent unobstructed views of the Intracoastal and Atlantic Ocean.

Related Companies has a 25-year history of developing significant properties in West Palm Beach which began with CityPlace in 1999 which has been reimagined into The Square, a vibrant urban destination where workplaces, shops, restaurants and culture come together amid a setting of walkable, green public spaces. Under the leadership of Stephen M. Ross and Kenneth A. Himmel, Related Companies’ West Palm Beach office has grown to nearly 100 professionals dedicated to the growth of the community. Executive Vice President Bryan Cho, who has led luxury residential developments across the country for Related including 70 Vestry, The Century, 456 Washington and most recently The Set and Coterie, has relocated to West Palm Beach and will oversee the development program at South Flagler House. Related Companies’ other West Palm Beach developments include One Flagler, East and West Towers, 360 Rosemary, RH West Palm and the Hilton West Palm Beach.

“West Palm Beach has seen amazing growth and development in the last few years and a residential development of this stature signifies an exciting new chapter for the community that we feel will attract discerning buyers seeking the best in luxury living,” said Kenneth A. Himmel, President and CEO of Related Urban. “South Flagler House will be one of the most significant high-rises in West Palm Beach and an important new landmark for the area and South Florida.”

“Related Companies is known for developing best-in-class, luxury residential buildings across the country including in New York, Boston, Chicago and Los Angeles, and South Flagler House represents the next evolution of The Related Life in West Palm Beach,” said Bryan Cho, Executive Vice President of Related Companies’. “RAMSA’s approach to designing distinguished buildings complements Related Companies goal of delivering thoughtful and innovative residences, and South Flagler House will set a new benchmark for the residential experience.”

“For over two decades, our enduring partnership with Related Companies has epitomized excellence in luxury residential architecture and design. South Flagler House blends timeless elegance with the vibrant charm of Palm Beach, creating an iconic addition to West Palm Beach’s skyline. Serving as a new gateway to a dynamic, cultural district that encompasses renowned institutions, we look forward to ushering this important project forward through its next evolutionary phase,” said Paul Whalen, Partner, RAMSA.

“For three generations, the Frisbie family has worked to elevate West Palm Beach through a variety of significant developments. The vision for South Flagler House continues this tradition, aiming to set a new standard for luxury living along the Gold Coast, and we believe Related is uniquely positioned to deliver this landmark building,” said Robert Frisbie Jr., Managing Director of Frisbie Group.

"At Frisbie Group, we invest in communities where we can make a positive impact and proactively enhance the quality of life for residents and businesses. We know that going forward South Flagler House will become one of the most highly regarded residential condominium projects, setting a new standard for quality and luxury, and contributing to the revitalization of this critical location,” said Cody Crowell, Managing Director of Frisbie Group.

“We are proud of what Frisbie Group and Hines have accomplished over the last three years, creating a vision for what will be a city-defining project for West Palm Beach,” said Michael Harrison, Senior Managing Director of Hines. “We began working on this project in early 2020 and are excited for the next phase in its evolution. This great outcome will allow Hines to continue to invest in the growth of our South Florida platform, and allows us to shift our focus to other compelling development and acquisition opportunities across the region at this point in the cycle,” said Juan Jacobus, Managing Director of Hines, based in South Florida.

Residents enter South Flagler House through a tree-lined, 360-foot private driveway, which leads to a circular motor court with a stunning fountain at its center. Residents are greeted by both a doorman and valet, before entering a dramatically-scaled, light-filled lobby staffed by a 24-hour attendant and concierge. The residences at South Flagler House are expansive in scale with high ceilings, oversized windows, and private outdoor spaces. The interiors are designed by Pembrooke & Ives to showcase the homes’ extensive layouts and spectacular views.

Residents will have access to The Related Life including a wide array of amenities, services and programming similar to those found at the most exclusive private members clubs around the world. Sports and Fitness amenities include a pickleball court and lounge, outdoor sports lounge cabana, state-of-the-art fitness center, pilates studio, golf simulator lounge, outdoor recreation lawn area, yoga studio and outdoor yoga lawn, high-intensity interval training lawn and private training studio. Swim and Spa amenities include a 25-meter lap pool, sun shelf pool, hot tub and spas that feature vitality pools, ice plunges, steam, sauna, beauty treatment rooms and changing/locker rooms. Social and Entertaining amenities include indoor and outdoor lounges, events room with catering kitchen, private dining rooms, outdoor dining patio, sunset outdoor terrace, wine cellar dining room, library, media room, card game room, and games room which includes ping pong, billiards and foosball. Business amenities include a business center, private offices, conference rooms, outdoor meeting spaces and co-working spaces. Children’s Recreation amenities include an indoor playroom, children’s lounge with kitchenette, craft room and outdoor sprinkler garden.

South Flagler House features two- to five-bedroom residences with pricing starting at $7.5 million. Construction is expected to start in 2024. For more information, please visit www.southflaglerhouse.com. One of the country’s top agents, Suzanne Frisbie, will continue leading sales.

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About Related Companies: 
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States. Formed 50 years ago, Related is one of the largest private owners and preservationists of affordable housing in the U.S. and a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisition, management, finance, marketing, and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, West Palm Beach, Miami, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. With over $60 billion in assets owned or under development including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, The Square in Downtown West Palm Beach, The Grand LA and Related Santa Clara in California and The 78 in Chicago. Related was named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World. For more information about Related, please visit www.related.com.

About Robert A.M. Stern Architects: 
Robert A.M. Stern Architects, LLP, is an international architectural practice based in New York City offering architecture, urban planning, landscape, and interior design services. For more than 50 years, the practice has remained committed to architecture as an art and a profession. As a leading design firm with expertise in residential, commercial, and institutional projects, RAMSA believes buildings must gracefully satisfy clients' needs while speaking to the public and elevating everyday life. The firm maintains an attention to detail and commitment to design quality which has earned international recognition, numerous awards and citations for design excellence. https://www.ramsa.com/

About Frisbie Group, LLC: 
Frisbie Group, LLC is a private real estate investment firm based in Palm Beach, Florida, specializing in the reimagination and revitalization of prime real estate assets in strategic locations.

Focusing on innovative investment strategies, FG strives to not only create value at the asset level but also to enhance the surrounding community. This concept of placemaking is central to our investment philosophy. It serves as a strong driver behind the enthusiasm to partner with world-class architects and designers to proactively re-envision our communities so they are strategically positioned for future generations.

Employing fundamental analysis, FG identifies opportunistic and value-add properties backed by market-leading research and data. With a vertically integrated platform, FG successfully operates with in-house expertise dedicated to acquisitions, asset management, design, construction management, sales, branding, marketing, and communications.

About Hines: 
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage nearly $96B¹ in high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 685 properties totaling nearly 216 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media. 
¹ Includes both the global Hines organization and RIA AUM as of December 31, 2022.