Silvia Tcherassi Signs 1,420-Square-Foot Lease At 150 Worth Avenue In Palm Beach

The property asset involved in this transaction is a 1,420-square-foot retail space located at 150 Worth Avenue, within the Palm Beach market. The space was previously occupied by Saks Fifth Avenue and is set for a new boutique opening in November.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not Disclosed
• Address: 150 Worth Avenue
• Market: Palm Beach
• Landlord: William O'Connor - O’Connor Capital Partners
• Tenant: Silvia Tcherassi
• Brokers: Lee Koniver & Bruce Koniver - Odyssey Retail Advisors

This lease marks the first transaction following Saks' vacating of the 128,779-square-foot Esplanade property, which is under redevelopment to create eight retail suites. The involvement of O’Connor Capital Partners indicates a strategic move towards revamping the retail presence in the area.