Vaster Funded: The Crystal — West Palm Beach, FL

The Crystal is a small-scale luxury condominium complex in West Palm Beach, Florida. Its six units are designed in a townhome style to provide a comfortable and homey feel. At the same time, high-end features contribute to a luxurious aesthetic. 

Investment Type: Construction Financing

Property Description: 6-Unit Boutique Condo Complex

Loan Amount: $11,700,000

The Essential Extras

Even though the Crystal is on the smaller side, its qualities are anything but small. For starters, each of the units are serviced by a private elevator. Each unit also comes with two private parking spaces. If you’re looking to take advantage of the beautiful Atlantic water for boating, you also have access to a community day dock with private boat slips. 

In terms of interior amenities, each unit is designed with marble floors, quartz countertops, soaking tubs, walk-in showers, and floor-to-ceiling windows made with hurricane impact glass. This practical yet stunning feature allows you to enjoy the incredible views without worrying about potential weather damage. 

Speaking of views, the Crystal offers some of the best views in West Palm Beach. Each unit has a picturesque view of palm trees and water. Units located on higher floors boast views over West Palm Beach and Palm Beach Waters. The best part about these views? Having a prime spot to watch the sunrise every morning. 

Community

The area surrounding the Crystal in West Palm Beach is just as incredible as the complex itself. West Palm Beach is known for its incredible shopping and dining experiences. Worth Avenue, for example, has hundreds of stores and restaurants waiting to be enjoyed. If you’re into art or history, you can check out the Norton Museum of Art and the Henry Morrison Flagler Museum. 

If you’re into nature, you can check out the Mounts Botanical Garden or the Grassy Waters Preserve. Finally, if you’re into golf, then West Palm Beach is the perfect place for you, with some of the best golf courses in the country. The West Palm Beach Golf Course is just a short drive away, and the Trump International Golf Club is also nearby. 

In terms of population, West Palm Beach has just over 100,000 residents, making it the perfect size since it’s not too big and not too small. The area has experienced a lot of growth in the past 10 years, with the population increasing 13.84% during that time period. The median age in the area is just under 40 years old. 

Nearly one in two people in the West Palm Beach area own their own home. Nearly 35% of residents have a college degree, and 14% have earned a graduate degree. The average earnings for the area is $35,000 per year for all educational levels, but residents with a graduate degree earn on average $62,000 a year. 

All of these factors make the West Palm Beach area a great place to live — or invest.

Checklist: The Checks

Financing the Crystal in West Palm Beach was made possible thanks to Vaster Capital. The project was purchased from the developer so that the units could be completed and then sold to members of the community.

Financing the project could have been difficult since it was still in progress and not yet completed. Many lenders would have been hesitant to take on such a project — but not Vaster Capital. 

Vaster Capital saw the opportunity in the Crystal and knew that it was a solid investment. We were able to close on the property in a timely manner with help from our dedicated and experienced team. Now, the units can be completed and then sold for competitive prices. 

Vast Opportunities

Vaster Capital financed the Crystal, and we can finance your real estate project too. We are one of South Florida’s premier bridge lenders. We fund some of the largest projects in the area — the Crystal being one. In addition to the Crystal, we have recently funded other projects in South Florida, including 1212 Aventura, and the Palm Beach Post Repositioning. 

We specialize in bridge loans that are designed as short-term lending solutions. In most cases, these loans will need to be repaid within two years. However, there is still a potential for extensions if necessary. 

In fact, bridge loans aren’t just flexible in terms of repayment, but they’re also flexible in terms of qualification. Many traditional lenders would deny you due to a low credit score or a short income history. However, Vaster Capital is willing to work with all types of borrowers.

During our approvals process, we take the “full picture” into account. This makes our lending solutions ideal for foreign investors who may not have the documentation needed to apply for a traditional loan. 

Bridge loans can be closed quickly, allowing you to take advantage of incredible investment opportunities before someone else does. Instead of taking weeks to process all the paperwork, we can process everything within a few days. This gives you a leg up on the competition even when competing with all-cash buyers. 

So no matter whether you’re looking to purchase a multi-family property, an office building, or vacant land: we can help make it happen. This is because we see value where others don’t. We are able to see this “hidden value” thanks to our extensive real estate knowledge and expertise. You can also benefit from this expertise as our experts are able to assist you with every financing need and investment decision. 

The Crystal Clear Decision

The Crystal is just one of our many funded real estate projects. So if you’re looking to get into the South Florida real estate game — either with commercial loans or home loans — then reach out to one of our financial experts today to learn more and fill out an application. 

Sources:

The Crystal Condos of West Palm Beach, FL | High Rises

The Crystal West Palm Beach | The Palm Beach Group

Crystal Palm Beach Homes For Sale | Bex Realty