Orlando developer Chuck Whittall is under contract to scoop up La Fontana, the waterfront co‑op at 2800 North Flagler Drive in West Palm Beach, for about $200 million, which shakes out to roughly $1.4 million per unit. The 10‑story building has about 140 units and dates back to 1961, and its board has reportedly signed off on the pending sale. Whittall has confirmed he is under contract, but he is keeping any specific redevelopment plans close to the vest for now.
As reported by The Real Deal, Whittall, who is founder and CEO of Unicorp National Developments, is under contract at roughly the asking price, and the deal could close sometime in 2027. The outlet also noted that Christian Prakas of Serhant brought the property to market for a bulk sale last year, and that multiple offers made the rounds before the board ultimately agreed to this contract.
The building and the numbers
According to Palm Beach County Property Appraiser records, La Fontana was built in 1961 and contains roughly 140 units, confirming both the age and the scale that can make major repairs and assessments a serious issue. Those details help explain why older waterfront buildings along this stretch have become magnets for bulk offers, since structural work, assessments and rising insurance premiums can quickly turn into a financial squeeze for long‑time co‑op owners.
Who’s buying
Whittall’s firm, Unicorp National Developments, has been behind large Florida projects including the Residences at the St. Regis Resort on Longboat Key and the O‑Town West master‑planned community, according to Unicorp. Whittall "confirmed that he is under contract to acquire La Fontana" and said he was "investigating all the development possibilities for the property," according to The Real Deal.
Why buyers are circling
Developers are increasingly zeroing in on aging buildings along Flagler Drive because there is not much undeveloped waterfront land left, and new luxury projects are steadily reshaping West Palm’s skyline. A nearby deal shows just how aggressive the bidding can get, with BEKO Equities offering $295 million for Portofino South earlier this year, according to the Palm Beach Post, a figure that highlights how valuable contiguous waterfront sites have become.
What it means for owners
State rules enacted after the Surfside collapse require milestone inspections and Structural Integrity Reserve Studies, which have raised the cost of keeping older buildings in service and can make a bulk buyout look more attractive than a massive special assessment. The Division of Condominiums at the Florida Department of Business and Professional Regulation spells out the inspection and SIRS requirements, reporting timelines and reserve‑fund obligations that associations have to follow.
For now, the big questions are whether Whittall will seek a termination vote or hold the co‑op while he studies his redevelopment options, and whether enough owners will stay on board with the deal when and if it reaches closing. Observers will be keeping an eye on public filings, co‑op meeting minutes and permitting activity as the prospective 2027 closing window gets closer.
