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

Property Image
SOLD
$43,000,000
JL
Kenneth Bernstein

Florida

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Retail9,900 SF
Sold 03/31/2026
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Property Image
SOLD

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

225 Worth Avenue

See Similar Deals
Retail9,900 SF
Sold 03/31/2026
JL
Kenneth Bernstein
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$4,343
Total Square Footage:9,900 SF
Transaction Type:Sale

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.

Players

Kenneth Bernstein
Acadia Realty Trust
Kenneth Bernstein
8 deals$386M volume
BUYER
JL
Jay Lobell
6 deals$330.9M volume
SELLER

Details

SOLD
IMAGE: Kenneth Bernstein & Jay Lobell DATE: 03/31/2026 ADDRESS: 225 Worth Avenue MARKET: Palm Beach ASSET TYPE: Retail BUYER: Kenneth Bernstein - Acadia Realty Trust (@AcadiaRealtyTrust) SELLER: Jay Lobell - JSB Capital Group SALE PRICE: $43,000,000 SF: 9,900 ~ PPSF: $4,343 NOTE: Acadia Realty Trust paid $43M ($4,329 per square foot) for the 9,900-square-foot retail building at 225 Worth Avenue in Palm Beach from an entity tied to JSB Capital Group, expanding its presence in the market. The 1950-built property is leased to Gucci, G/FORE and J.McLaughlin, doubling Acadia’s retail holdings in Palm Beach County.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,293,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$152,769.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$203,841.94
Annual Debt Service$2,446,103.25