Stephen A. Schwarzman Of Blackstone Acquires Mixed-use Property From Ken Griffin For $125M In Palm Beach
125 Worth Avenue
$86,000,000
$1,720/SF
Building Size
50,000 SF
Asset Type
Mixed-use
Closing
Aug 12, 2026
About this deal
AI
The asset involved in the transaction is a mixed-use property located at 125 Worth Avenue in Palm Beach, Florida. The property encompasses approximately 50,000 square feet and was sold for a transaction amount of $125,000,000, which translates to a price per square foot of $2,500.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $125,000,000
- Buyer: Stephen A. Schwarzman - Blackstone
- Seller: Ken Griffin - Citadel
- Square Footage: 50,000
- Price per Square Foot: $2,500
Ken Griffin purchased the property for $83 million in 2023. The transaction indicates that Blackstone Real Estate plans to renovate the retail and office space as part of its broader strategy targeting high-end global retail corridors.
On the Map
$86,000,000
$1,720/SF
Mixed-use
View full map
Players
Palm Beach Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Stephen A. Schwarzman to view all their deals.
Browse Palm Beach mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93