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June 10.2025

2 Minutes Read

Steve Ross Secures $600M Financing for Luxury South Flagler House Condos

South Flagler House condos with city skyline, financing insight.

Steve Ross Seals Major Deal for Luxury Condo Financing

Billionaire developer Steve Ross has successfully secured a staggering $600 million in financing for the highly anticipated South Flagler House condo project in West Palm Beach. This noteworthy funding marks the largest condo construction financing deal in South Florida for the year, signaling a robust demand in the luxury real estate market.

The financing includes a $475 million senior secured loan from Bank OZK, known for its significant backing of major real estate developments in the region. Additionally, GoldenTree Asset Management, in collaboration with TZ Capital, contributed a mezzanine loan of $125 million. The partnership reflects the firm’s confidence in the luxury condo market amidst a backdrop of economic uncertainty.

Luxurious Features Await Future Residents

The South Flagler House project, designed by renowned architect Robert A.M. Stern, will feature two towers comprising 105 ultra-luxurious condominiums. With prices starting at $7.9 million and soaring up to an incredible $73 million for the penthouse, the development offers some of the most premium units in the West Palm Beach area.

Planned amenities are as impressive as the units themselves. Future residents can indulge in a variety of luxurious facilities including a pool, spa, fitness center, yoga studio, and even pickleball courts. Social spaces for hosting gatherings are thoughtfully designed with features such as a cocktail lounge, wine cellar, and private dining room.

Economic Encouragement Amid Uncertainty

Despite fluctuations in the economic landscape, lenders continue to show overwhelming support for luxury condominiums in South Florida. The region is currently experiencing a surge in condominium development, with over 6,000 units in the planning stages in West Palm Beach alone. Projects like the Olara by Savanna also reflect this trend, having recently secured a $380 million loan.

Looking Forward to Known Future

With construction already underway and expected completion by 2027, the South Flagler House promises to be a game-changer in the luxury real estate market of West Palm Beach. Buyers will not only gain access to a prime location but also to a lifestyle enriched with exceptional amenities and luxury.

As the South Florida luxury market continues to evolve, it’s likely that further developments will emerge, fortifying the region's status as a hotspot for high-end real estate. Homeowners and potential buyers alike should keep a close eye on the future trends of this impressive market.

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Steve Ross Secures $600M Financing for Luxury South Flagler House Condos

Steve Ross Seals Major Deal for Luxury Condo Financing

Luxurious Features Await Future Residents

Economic Encouragement Amid Uncertainty

Looking Forward to Known Future

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