Alba Palm Beach’s sales opened last month with a reservation boon that set aside about 35% of its units in the first few days as inventory in West Palm Beach’s luxury condo market remains tight.
The Alba development is another sign that the demand for residential options is fueling more vertical development into neighborhoods that have previously been overlooked or bypassed.
The 22-story waterfront condominium, scheduled to open in 2025, was designed with open-space, pandemic-living in mind — including 16-foot-deep balconies that can accommodate an outdoor kitchen — said principal developer Kenneth Baboun.
Baboun, who is building a home in the South of Southern, or SoSo, community in West Palm Beach after moving from Miami, also touted the 55-unit condo’s private docks with boat slips, and a 25,500-square-foot “amenity level” on the 6th floor with pools situated to accentuate sunrise and sunset swims.
Starting at $2.5 million with an average unit selling for about $3.5 million, Baboun said the Alba is catering to an underserved market of buyers looking for less expensive residences as compared to the starting price of $6.7 million at the planned Forté development and the average price of $8.8 million at the ultra-luxury Bristol.
“Another differentiation about this project is we have four townhouses on the water, and they are literally on the water,” Baboun said. “People can have their own house on the Intracoastal with a great set of amenities.”
Alba means sunrise or first light in Spanish.
“When I walked onto the property, the sun was coming up, and it just clicked,” Baboun said.
The 1.71-acre property at 4714 North Flagler Drive was the sight of the storied Scuba Club, which was founded in 1977 but sold in 2016 for $3.8 million. A subsidiary of BGI Capital, which is building Alba, bought the land in 2020 for $5.8 million.
The Alba will be flanked by condominiums that date to the 1960s and 1970s. To its south is the 56-year-old Palm Beach Sailing Club. The Flotilla Club is to its north on a lot that is more sand and Florida scrub than pavement.
Error: No connected account.
Please go to the Instagram Feed settings page to connect an account.
