Stephen A. Schwarzman Of Blackstone Acquires Mixed-use Property From Ken Griffin For $125M In Palm Beach

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.