Excerpted form The Real Deal story.
Fortress Investment Group just bought a gem on Palm Beach’s Worth Avenue.
A Madden Family Associates partnership sold the Tiffany & Co. building at 259 Worth Avenue to Fortress for $20 million. The 16,374-square-foot building sold for $1,221 per square foot after nearly two years on the market.
Greg Matus of Franklin Street represented the buyer and seller, according to a press release. Franklin Street’s Lisa Jesmer will provide property management services for the building.