JVP Management Provides $62.5 Million Pre-Construction Loan for The Berkeley Palm Beach Luxury Tower

The Berkeley Palm Beach has secured a $62.5 million pre-construction loan from New York-based JVP Management, advancing the development of a 25-story luxury residential tower in downtown West Palm Beach. This financing milestone validates the city's remarkable growth trajectory and reinforces its position as one of the nation's fastest-growing hubs for luxury real estate, healthcare, dining, and corporate investment.

Developer Al Adelson, who previously set the standard for high-rise living with The Bristol in 2019, stated that this financing represents more than just capital—it signifies market confidence in West Palm Beach's evolution into a global destination. The Berkeley builds upon this legacy with refined design, expansive amenities, and a lifestyle that mirrors the city's ongoing transformation.

Anthony Shaskus, Head of Credit Strategies at JVP Management, emphasized their confidence in both the development team and the sustained demand for premium residences in West Palm Beach. The financing will support the project through its predevelopment phase, with potential construction financing anticipated for 2026.

Designed by Arquitectonica under Bernardo Fort-Brescia's leadership, the tower will feature 193 residences ranging from two to five bedrooms, including four penthouses. Each residence offers flow-through layouts, 9- to 11-foot ceilings, and expansive east- and west-facing terraces capturing both sunrise and sunset views. The homes feature natural stone finishes, Snaidero kitchens, and floor-to-ceiling glass that seamlessly blend indoor and outdoor living.

The development's amenities span multiple levels, including concierge services, a library, co-working lounge, and pet-friendly facilities at ground level. The seventh-floor amenity deck features a resort-style pool with cabanas, spa treatment rooms, wellness facilities, a golf simulator, and landscaped lawns. The rooftop offers a swimming pool, jacuzzi, sky lounge, private dining with chef's kitchen, and panoramic views of Palm Beach. Additionally, residents will benefit from UPLIN Health's In-Home Concierge Health Services, providing personalized medical care within their residences.

Bob Ernst, Partner and Development Director, noted that with financing secured and the site prepared for construction, The Berkeley represents the next evolution of West Palm Beach living. The project's location at 500 South Australian Avenue positions residents steps from the cultural, dining, and business momentum redefining downtown West Palm Beach, while the full-building emergency standby generator ensures safety during weather-related disruptions.