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150 Worth Avenue

Reuben Brothers And Crown Onyx Advisors Acquire The Esplanade At 150 Worth Avenue In Palm Beach
SOLDRetail

Reuben Brothers And Crown Onyx Advisors Acquire The Esplanade At 150 Worth Avenue In Palm Beach

150 Worth Avenue

Building Size

Asset Type

Retail

Closing

Mar 20, 2026

AI

The asset involved in this transaction is a retail property located at 150 Worth Avenue in Palm Beach. The buyers acquired the property from an affiliate of O’Connor Capital Partners. The previous owner purchased the property for $106 million in 2014. The buyers, Reuben Brothers and Crown Onyx Advisors, plan to renovate the luxury retail center to enhance the tenant mix.

Summary of transaction details:

This deal involves strategic players in the real estate market, with Reuben Brothers and Crown Onyx Advisors spearheading the acquisition aimed at enhancing their portfolio in the Palm Beach area. The transaction represents a collaborative effort between prominent figures in the industry, focusing on improving the tenant mix and overall offering of the property near The Vineta Hotel and other holdings on Worth Avenue.

Players

Brittany Bragg

Crown Onyx Advisors

Broker

2 deals

Broker

David Reuben

Reuben Brothers

Buyer

$182M

vol

3 deals

Buyer

Bill O’Connor

O’Connor Real Estate Advisors

Seller

$127.5M

vol

3 deals

Seller

Palm Beach Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93