Before sealing a $340 million construction deal, one Florida developer and New York investor didn’t know they were making Palm Beach business history.
Catalfumo Companies founder Dan Catalfumo talks to Fox News Digital about the development of The Ritz-Carlton Residences in Palm Beach Gardens., one Florida developer and New York investor didn’t know they were making Palm Beach business history.
New-York based Madison Realty Capital provided Catalfumo with a $340 million loan, the largest in Florida since the Federal Reserve began hiking interest rates, according to a press release."We have significant experience transacting in South Florida and will continue to look at projects with strong sponsors, strong pre-sales, and well-thought-out budgets," Josh Zegen, managing principal and co-founder of Madison Realty Capital, also told Fox News Digital.
"I don't know if there's any more boxes that I can check," Catalfumo said. "It is so unique because they're really like homes in the sky because they're really not condominiums."
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