The Berkeley Palm Beach
Clear Lake Waterfront · Arquitectonica · Al Adelson
The Berkeley Palm Beach
The Berkeley is a waterfront condominium at 550 South Australian Avenue, overlooking Clear Lake near downtown West Palm Beach. The official project site reports that the development broke ground on December 11, 2024.
The planned 26-story building contains 193 residences, with architecture by Arquitectonica and construction led by John Moriarty & Associates. A January 2025 project update cited 2027 completion; buyers should confirm the current schedule and contract terms.
The Berkeley Palm Beach at a Glance
550 South Australian Avenue, West Palm Beach, FL 33401
Al Adelson / Australian Property Group
Arquitectonica
193
26
Condominium
Clear Lake / Downtown West Palm Beach
Why Buyers Choose The Berkeley Palm Beach
Clear Lake setting
Water views with direct access to downtown West Palm Beach.
Terrace-focused design
The project emphasizes large private outdoor spaces.
Construction underway
The official project site documents the December 2024 groundbreaking.
How to evaluate The Berkeley
The Berkeley offers a different waterfront proposition from Flagler Drive: lake views, downtown access and a large residence program. Buyers should compare view orientation, terrace depth, current construction progress and operating-cost projections.
About The Berkeley Palm Beach
The Berkeley Palm Beach
The Berkeley is a Clear Lake waterfront condominium near downtown West Palm Beach. The official program calls for 193 residences across 26 stories, with Arquitectonica architecture and expansive private terraces.
Construction and anticipated timing
The official project site confirms a December 11, 2024 groundbreaking. A January 2025 project update cited completion in 2027. That remains anticipated timing rather than a guarantee, so buyers should confirm current physical progress and the operative purchase-contract provisions.
Explore Palm Beach new developments, South Flagler House, and Forté on Flagler. Primary sources: official groundbreaking announcement and official project site.
World-Class Amenities
Pools & Wellness
- Seventh-floor pool deck
- Rooftop adults-only pool
- Fitness center
- Spa and treatment spaces
Resident Spaces
- Private dining room
- Club lounge
- Co-working spaces
- Concierge and valet
Resilience
- Full-building emergency standby generator
- Covered porte-cochère
The Visionaries
Al Adelson / Australian Property Group
Development
Arquitectonica
Architecture
John Moriarty & Associates
Construction
Clear Lake and Downtown West Palm Beach
A lakefront location close to CityPlace, the Kravis Center and regional transportation.
Frequently Asked Questions
Where is The Berkeley Palm Beach?
The project site is 550 South Australian Avenue in West Palm Beach, overlooking Clear Lake.
Who is developing The Berkeley?
The official project site identifies Al Adelson as the driving developer and Australian Property Group as the development team, with Arquitectonica as architect.
Has The Berkeley broken ground?
Yes. The project's official announcement states that groundbreaking occurred on December 11, 2024.
When is The Berkeley expected to be completed?
A January 2025 update published on the official project site cited 2027 completion. Buyers should verify current progress and contractual delivery language.
Private Availability at The Berkeley Palm Beach
For current availability, pricing history, floor plans, and off-market opportunities at The Berkeley Palm Beach, request a confidential review with our advisory team.
550 South Australian Avenue, West Palm Beach, FL 33401
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Miami Real Estate Market Intelligence
Market Context: The Miami-to-Northeast and Miami-to-California migration has converted from pandemic-era spike to structural relocation. Miami’s millionaire population grew approximately 78% between 2013 and 2023. Geographic constraint is binding: ocean, bay, and Everglades pin supply. December 2025 medians: Miami Beach condo $620K, Brickell condo $580K. Luxury condominium price per sq ft: $1,200-$3,500+, extending to $2,000-$4,500+ on Fisher Island and $1,800-$4,000+ at South of Fifth.
Value submarkets: Brickell ($600-$1,500/SF), Edgewater ($700-$1,200/SF), Downtown Miami ($600-$2,000/SF). Trophy submarkets: Fisher Island, Sunny Isles Beach ($1,500-$3,500/SF, dense branded-residence inventory), South of Fifth. Branded benchmarks include Four Seasons Surf Club ($2,200-$3,500/SF), St. Regis Sunny Isles ($1,800-$2,800/SF), and Porsche Design Tower ($1,600-$2,400/SF). Miami now carries more hotel-branded residences than any other Western Hemisphere city.
Structural inputs compound: no state income tax (vs. 10.9% NY, 13.3% CA), no estate tax, 78% decade millionaire growth, and construction-cost inflation. Current pre-construction inventory was financed and broken ground before 20-50% tariffs landed on steel, aluminum, concrete, and lumber, effectively the last tranche of pre-tariff pricing. Florida SB 264 restricts acquisitions by nationals of certain countries within 10 miles of military installations and must be screened at contract stage for international buyers.
Key Facts
- Miami Beach Condo Median (Dec 2025): $620K
- Brickell Condo Median (Dec 2025): $580K
- Luxury Condo $/SF: $1,200-$3,500+
- Fisher Island $/SF: $2,000-$4,500
- Avg Days on Market: 95
- Closing Costs: 2-3% (cash), 3-4% (financed)
- Property Tax: ~2% of assessed value annually
- Millionaire Population Growth: +78% (2013-2023)
- State Income Tax: 0% (vs. NY 10.9%, CA 13.3%)
What Buyers Should Know
Miami’s millionaire population grew approximately 78% between 2013 and 2023 with no state income tax and hard geographic constraints (ocean, bay, Everglades) capping supply. Luxury condominium price per sq ft runs $1,200-$3,500+, extending to $2,000-$4,500+ on Fisher Island and $1,800-$4,000+ at South of Fifth. Miami now carries more hotel-branded residences than any other Western Hemisphere city.
Miami Real Estate FAQs
What are Miami’s current condominium medians?
December 2025: Miami Beach $620K, Brickell $580K. Luxury condominium stock runs $1,200-$3,500+ per sq ft, extending to $2,000-$4,500 on Fisher Island and $1,800-$4,000 at South of Fifth.
Why is Miami attracting UHNW capital structurally?
Zero state income tax (versus NY 10.9%, CA 13.3%), no estate tax, a 78% decade growth in the millionaire population (2013-2023), and geographic constraints that cap long-run supply. These are structural inputs, not cyclical.
What does the construction-cost tariff environment mean for current inventory?
Current pre-construction inventory was financed and broke ground before 20-50% tariffs landed on steel, aluminum, concrete, and lumber. Replacement-cost pricing on the next development cycle is expected to rise materially. Current allocations represent the last tranche of pre-tariff pricing.
What is Florida SB 264 and how does it affect international buyers?
Florida SB 264 restricts property acquisitions by nationals of seven countries (China, Russia, Iran, North Korea, Cuba, Venezuela, Syria) within 10 miles of military installations. The restriction must be screened at contract stage and may require entity-structure adjustments to comply.
What are typical monthly carrying costs on a Miami condominium?
HOA $0.80-$2.50 per sq ft per month, property tax ~2% of assessed value annually, HO-6 insurance $2,000-$5,000+ annually, flood insurance $500-$3,000+. A 2,000 sq ft condo runs $1,600-$5,000 per month in HOA alone.
What are the post-Surfside inspection requirements?
Buildings 3+ stories must undergo structural inspections at year 30 (year 25 if coastal), then every 10 years. Associations must fully fund reserves; reserve waivers are no longer permitted. Older buildings carry special-assessment risk; inspection and reserve-study review is required at due-diligence.