UPDATED Feb. 5, 8:50 p.m.: In a pricey maneuver amid the market slowdown, the Bristol, a luxury condo tower under construction in West Palm Beach, is spending $100,000 to run a commercial during Sunday’s Super Bowl, hoping it will bring in buyers.
The 30-second commercial, which will run from Broward through Palm Beach and Martin counties, represents the single biggest expense in the project’s multimillion dollar marketing budget, developer Al Adelson told The Real Deal.
It’s the second year the Bristol’s developers are running a commercial during the popular football game. “The Super Bowl is considered one of the best media events of the year and we had a terrific response from our ad last year on the Super Bowl,” said Adelson, principal of Flagler Investors, who is developing the tower with Gene Golub of Chicago-based Golub at 1100 South Flagler Drive on the Intracoastal Waterway.
Last year’s TV commercial led to four buyers at the 25-story tower, all from the Palm Beach area, Adelson said. “We had 10 or 15 calls, which is a lot because of the price point.”
With units ranging in price from $5 million to $30 million, the 69-unit tower is now more than 60 percent sold, he said. Buyers are primarily “well to do people from the Palm Beach, West Palm Beach area,” as well as some from Jupiter, Wellington and Boca Raton. Other buyers hail from New York, Boston, Chicago, Cleveland, Detroit and Boston.
Adelson said he’s attending two Super Bowl parties on Sunday where he will watch the commercial. It will be airing on WFLIX-FOX at about 5:59 p.m. and again at about 7:15 p.m., according to a spokesperson. She said the ad cost about $40,000 to produce and $60,000 to air twice.
Adelson said he doesn’t have any particular sales target from the commercial, “but we hope to receive a lot of positive feedback from potential buyers and from the community.”
The Bristol is expected to be completed in the fourth quarter of 2018. Chris Leavitt of Douglas Elliman is handling sales.
Correction: A previous version of this story had an incorrect amount of time for the commercial.