Orlando developer Chuck Whittall is under contract for a 140-unit waterfront building on North Flagler Drive. With no vacant land left, aging co-ops and condos have become the last development sites.
- La Fontana is a 140-unit co-op built in 1961 at 2800 North Flagler Drive in West Palm Beach.
- Chuck Whittall's Unicorp National Developments is under contract for close to the $200 million asking price.
- The deal works out to roughly $1.4 million per unit, and it could close sometime in 2027.
West Palm Beach's waterfront land grab has moved to the buildings already standing on it. According to The Real Deal, Orlando developer Chuck Whittall is under contract to buy La Fontana, a 140-unit co-op at 2800 North Flagler Drive, for close to its $200 million asking price. That works out to roughly $1.4 million per unit. The deal is under contract but still months from closing. It could be completed sometime in 2027.
Why is La Fontana selling?
La Fontana was built in 1961. Under Florida's post-Surfside law, aging condos and co-ops now face mandatory reserve studies that cannot be waived, and the resulting special assessments often run into the millions. When you are looking at repair bills like that, selling out at $1.4 million per unit starts to look like the easy way out.
The co-op hired Christian Prakas from Serhant Brokerage to market it for a bulk sale. The owners signed a letter of intent with a developer in November 2025, and the board unanimously approved the contract to Whittall. Paul Shooster of Dodge Real Estate represented the buyer.
Here is the other thing that makes co-ops easier targets than condos: they carry a lower termination threshold. The voting bar you have to clear to "terminate" the building is lower, so owners can agree to a bulk sale more readily than a condo association can. That mechanism is quietly reshaping the West Palm Beach waterfront.
What happened with the original deal?
Al Adelson, the same developer behind The Berkeley, had earlier offered $300 million for La Fontana plus the neighboring Portofino together. But the combined deal collapsed when Portofino's condo owners could not reach consensus. La Fontana went solo, and Whittall stepped in.
As Larry Mastropieri explained on the Discover South Florida Podcast, Portofino South had a separate $295 million offer that would have averaged about $2.1 million per unit. But Portofino requires 95% of its 140 owners to agree, and that is hard to get. The owners are also facing a $12 million special assessment for building upgrades. When you compare assessment headaches to a $2 million-plus exit, it is easy to understand why some owners want the deal. One unit is currently listed at around $1.2 million and has been sitting on the market for more than 200 days.
Own a condo in an aging waterfront building? Talk to a real estate agent in Palm Beach County who understands condo terminations and buyout strategies. Reach out to The Mastropieri Group or call (561) 556-9853.
Who is Chuck Whittall?
Whittall is an Orlando-based developer and founder of Unicorp National Developments. He is best known for large mixed-use and luxury projects in Central Florida, including the $1 billion-plus O-Town West, as well as hospitality plays like the St. Regis Longboat Key and a Ritz-Carlton Residences in Palm Beach.
La Fontana would be a major move into West Palm's ultra-competitive waterfront market, putting an Orlando player up against the Miami firms that have been dominating the corridor. What Whittall plans to build on the site has not been disclosed. Unicorp is known for high-end, branded products, but no announced project ties to the La Fontana site yet.
What other West Palm buildings are being bought out?
La Fontana is part of a larger pattern. With no vacant waterfront land left, developers are paying big numbers to control existing buildings. Here is where things stand on other buyouts along Flagler Drive:
Harbor Towers (3901 S. Flagler): Fort Partners (Nadim Ashi) is buying out this 61-unit condo for approximately $100 million. Fort Partners won a bidding fight against Related Ross for this site.
Southbridge (3915 S. Flagler): Related Ross (Steve Ross) is completing a buyout of this 63-unit condo for more than $42 million, working out to roughly $700,000 to $941,000 per unit.
Flagler House (3705 S. Flagler): Kolter and Perko bought out this 38-unit condo for $37.6 million and are planning a new 18-story tower.
Portofino South and Flagler Yacht Club: BEKO Equities offered $430 million for both buildings combined (179 units total), but the deal requires 95% owner approval at Portofino South, which has been difficult to achieve.
What is driving the West Palm waterfront buyout wave?
Three things are happening at once. First, there is no vacant waterfront land left in West Palm Beach. If you want to build on the water, you have to buy something that is already there. Second, the post-Surfside inspection and reserve laws have made older buildings expensive to maintain. Owners facing six- and seven-figure special assessments are suddenly more interested in selling. Third, developers are flush with capital and willing to pay premium prices for irreplaceable waterfront positions.
The result is a wave of buyouts that is reshaping the Flagler Drive skyline. More than a dozen luxury condo projects with over 2,000 units are in the works in West Palm Beach, many led by Miami-based firms like Related Group, Terra, and BH Group. La Fontana sits on North Flagler, the same waterfront cluster as Alba, Olara, and the Terra/BH towers we have tracked.
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Frequently Asked Questions about La Fontana in West Palm Beach
How much is La Fontana selling for?
Chuck Whittall's Unicorp National Developments is under contract for close to the $200 million asking price. That works out to roughly $1.4 million per unit for the 140-unit co-op. The deal could close sometime in 2027.
Why is La Fontana being sold?
La Fontana was built in 1961, and under Florida's post-Surfside laws, aging buildings are subject to mandatory reserve studies and costly repairs. Selling at $1.4 million per unit allows owners to exit before facing potentially large special assessments. Co-ops also have lower termination thresholds than condos, making bulk sales easier to approve.
Who is buying La Fontana in West Palm Beach?
Chuck Whittall, founder of Orlando-based Unicorp National Developments, is the buyer. Whittall is known for high-end projects including the St. Regis Longboat Key, Ritz-Carlton Residences Palm Beach, and the $1 billion-plus O-Town West in Orlando. What he plans to build on the La Fontana site has not been disclosed.
What other West Palm Beach waterfront buildings are being bought out?
Harbor Towers is selling to Fort Partners for approximately $100 million. Southbridge is being bought out by Related Ross for more than $42 million. Kolter and Perko bought Flagler House for $37.6 million. BEKO Equities offered $430 million for Portofino South and Flagler Yacht Club combined, but that deal requires 95% owner approval.
Where is La Fontana located?
La Fontana is located at 2800 North Flagler Drive in West Palm Beach, on the Intracoastal Waterway. The 10-story co-op sits on the North Flagler corridor, near other recent luxury developments like Alba and the planned Terra/BH Group towers.
Local help for buyers and investors in West Palm Beach
If you are buying, selling, or investing in West Palm Beach, understanding how waterfront buyouts and new construction affect property values matters. Reach out to The Mastropieri Group, Realtors®.
For practical, hands-on support across West Palm Beach, call (561) 556-9853.
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