New York University Acquires West Palm Beach Office Building From Morning Calm Management For $33M

A 68,811-square-foot office building at 324 Datura St. in West Palm Beach, FL has been sold for $33 million. The property, situated on 0.65 acres, was purchased by Linda G. Mills, representing New York University, from Mukang Cho, representing Morning Calm Management. The transaction price of $33 million is significantly higher than the property's previous sale price of $10.65 million three years ago.

Summary of transation details

• Property Type: Office
• Transaction Amount: $33,000,000
• Address: 324 Datura Street, West Palm Beach, FL
• Market: West Palm Beach
• ACRES: 0.65

New York University, represented by Linda G. Mills, made the acquisition of the office building. Morning Calm Management, represented by Mukang Cho, acted as the seller. The transaction saw a significant increase in the property's value compared to its previous sale price. Morning Calm Management had plans to demolish the existing structure and develop a seven-story medical-office building with 181,492 square feet and a 201-space parking garage on the site.