EXCLUSIVE: Tiffany building on Palm Beach’s Worth Ave. sells for $20M, deed shows

October 4, 2018

One of Worth Avenue’s most recognizable buildings — home to Tiffany & Co. — has changed hands for $20 million, according to a deed recorded today. The price paid for 259 Worth Ave. in Palm Beach works out to about $1,221 per square foot. The buyer is New York City-based Fortress Investment Group LLC, an investment management firm, according to a statement released by Franklin Street, the commercial brokerage that handled the sale.

Fortress pays $20M for Tiffany building on Worth Avenue

A Madden Family Associates partnership sold the Tiffany & Co. building at 259 Worth Avenue in Palm Beach to Fortress Investment Group for $20 million. Greg Matus of Franklin Street represented the buyer and seller. Franklin Street’s Lisa Jesmer will provide property management services for the building.

Tiffany & Co. building on Worth Avenue sells for $20M

October 3, 2018

Fortress Investment Group has acquired the Tiffany & Co.-leased building on Palm Beach’s upscale Worth Avenue for $20 million. Madden Family Associates, managed by Daniel Madden in West Palm Beach, sold the 16,374-square-foot building at 259 Worth Ave. to an affiliate of Fortress (NYSE: FIG). The seller was represented by Greg Matus of Franklin Street.

Expensive Breakfast at Tiffany’s

Franklin Street’s Greg Matus arranged the $20M sale of a trophy property on Worth Avenue in Palm Beach.

Four Questions to Ask Before You Hire a CRE Services Firm

October 2, 2018

Hiring the wrong brokerage or property management firm can cost you time and money.