Related Ross has secured a $157 million construction loan for Shorecrest, its second condominium project in West Palm Beach. The financing was provided by GoldenTree Asset Management, led by Steven Tananbaum. GoldenTree also participated in the $600 million construction financing for South Flagler House, another condo development by Related Ross in the same city.
Shorecrest will be a 28-story building with 98 units located at 1865 North Flagler Drive, which was previously the site of Temple Israel. Corcoran Sunshine Marketing is managing sales for the project, with unit prices starting at $3 million. Construction is scheduled to be completed next year.
The design team includes Roger Ferris + Partners as architects, Rottet Studio for interiors, and DS Boca as landscape architect. Last year, Roger Ferris + Partners leased office space at Phillips Point, a property owned by Steve Ross.
Originally launched in 2024 as a 26-story tower with 140 units and plans to include a house of worship and preschool for Temple Israel on the ground floor, Shorecrest was redesigned after synagogue members approved a $30 million sale of the site to Related Ross later that year.
The current plan calls for four units per floor, offering two- and three-bedroom layouts. Amenities will feature a pool, spa facilities, private dining room, game lounge, golf simulator, and meeting spaces. Equinox, a luxury fitness brand owned by The Related Companies, will manage amenities and services in the building.
Shorecrest is part of a growing number of condominium developments along West Palm Beach’s waterfront. It is located next to Savanna’s Olara at 1919 North Flagler Drive—a planned complex with two towers comprising 275 condos and 170 apartments. There are currently more than 2,000 condos under development in West Palm Beach. Among these projects, South Flagler House stands out as the most expensive option on the market; its median price is $15 million. Former Apple CEO John Sculley and his wife are purchasing a penthouse there for $40 million.
