Commercial Real Estate, Capital, Insurance, Leasing & Management

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

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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.

Excerpted from South Florida Business Journal story.

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.

The price equated to $1,221 a square foot. Worth Avenue is one of the nation’s most expensive retail streets.

For full story, visit https://www.bizjournals.com/southflorida/news/2018/10/03/tiffany-co-building-on-worth-avenue-sells-for-20m.html

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