Kenneth Bernstein Of Acadia Realty Trust Acquires Retail Building In Palm Beach For $43M

The retail asset involved in this transaction is located at 225 Worth Avenue in Palm Beach. Acadia Realty Trust purchased the property for $43,000,000, which equates to approximately $4,343 per square foot. The building spans 9,900 square feet and was constructed in 1950. It is currently leased to tenants including Gucci, G/FORE, and J.McLaughlin, and the acquisition expands Acadia's retail presence in the Palm Beach market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $43,000,000
• Square Footage: 9,900
• Price Per Square Foot: $4,343
• Buyer: Kenneth Bernstein - Acadia Realty Trust
• Seller: Jay Lobell - JSB Capital Group
• Market: Palm Beach

Kenneth Bernstein represents Acadia Realty Trust in this transaction, while Jay Lobell represents JSB Capital Group. This sale marks a significant expansion for Acadia in Palm Beach County.