Teddy Tananbaum, Tyler Tananbaum & Sam Zuckert Of TZ Capital Acquire Retail Building In Palm Beach For $80.5M

The asset involved in the transaction is a retail property located at 151 Worth Avenue in Palm Beach. The sale price for the property was $80,500,000. The total square footage of the building is 48,578, resulting in a price per square foot of $1,657.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $80,500,000
• Square Footage: 48,578
• Price per Square Foot: $1,657
• Buyer: Teddy Tananbaum, Tyler Tananbaum & Sam Zuckert - TZ Capital
• Market: Palm Beach

The buyer, TZ Capital, is a real estate investment firm based in West Palm Beach. They plan to undertake an extensive renovation of the vacant building to attract luxury tenants and will be reopening the property’s underground parking with valet services. Newmark Group's Jay Luchs and Lantern Real Estate's Matt Seigel have been engaged to handle leasing for the building.