Before sealing a $340 million construction deal, one Florida developer and New York investor didn’t know they were making Palm Beach business history.
“We didn’t know it was going to be record-breaking, but we found out after the fact,” Catalfumo Companies founder Dan Catalfumo told Fox News Digital. “Our team worked extremely hard. We had all hands on deck for the size of this loan.”
Overlooking the Palm Beach Gardens intracoastal waterway sits a sprawling 11 acres that will be transformed into The Ritz-Carlton Residences’ newest luxury mid-rise condominiums.
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.
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