Auction Sale of Unfinished Palm Beach, FL Tiffany Building Penthouse Could Fetch $21 Million

 

Unfinished Palm Beach, FL Tiffany Building Penthouse on Fashionable Worth Avenue Could Fetch $21 Million

PALM BEACH, FL -- Audrey Hepburn would have been in heaven. Instead of Breakfast at Tiffany’s, she could have had breakfast, lunch and dinner on Tiffany’s - every day of the week.

Audrey Hepburn
(as she looked in younger
 film-playing days)

Time for a script rewrite when it comes to the Palm Beach penthouse that sits atop Tiffany’s -  the store that brings tears of joy to so many women.

 No need to catch a cab or bus or walk more than a few feet to one of the world’s premier jewelry stores.

 

 With the main structure completed and considering its unique and enviable location directly on Worth Avenue, South Florida’s Rodeo Drive, the builder felt the buyer would have specific design tastes and is selling the space unfinished at auction on March 15.

 

With a figure of around $20 million in mind, according to

TopTenRealEstateDeals.com.

 

               Worth Avenue Shops, Palm Beach, FL

Just like Tiffany’s, some institutions never change, like window shopping on Palm Beach’s glitzy Worth Avenue.

 The epicenter of the ritzy town where the wealthy shop at Chanel, Gucci, Lilly Pulitzer and Tiffany’s. Before they head out to their yachts, polo matches and dinner at the Everglades Club where billionaires enjoy socializing with their peers.

Mar-a-Lago estate, Palm Beach, FL

Not too far from President Trump’s Mar-a-Lago or the former Joseph Kennedy family mansion that sold in 2020 for $70 million. 

 

New owners of the building, Kean Developers, have turned the second floor above Tiffany into a five-bedroom, seven-and-a-half bath residence with staff quarters totaling 13,000 square feet, including the new upper level. 

 

 Notably, they added a level to include a rooftop terrace with swimming pool, game room, bar and gym.

Everglades Golf Club

There is also a rooftop glass-walled pergola, spa and waterfall. Located near the center of Palm Beach, it is just a few steps to the Atlantic Ocean to the east, the Intracoastal Waterway to the west, and the Everglades Golf Club greens just across the street.

 

The yet-to-be-completed Tiffany Building penthouse is currently listed with John Reynolds and Gary Pohrer of  Douglas Elliman, Palm Beach, at $19.5 million while waiting to hit the auction block on March 15th.

 

CONTACT:

Genelle C. Brown

Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3725
Twitter:  @toptenrealestat
Facebook.com/toptenrealestat

Photo credit:  Concierge Auctions
Source:  TopTenRealEstateDeals.com 

 Renderings credit:  Concierge Auctions

Source: www.conciergeauctions.com 

 

Stan Johnson Co. Arranges $21 Million Sale of Mississippi Distribution Facility

Maggie Holmes 

GRENADA, MS -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant industrial facility leased to Advanced Distributors Products, the leading producer of residential evaporator coils in the nation. 

The 288,000-square-foot property is located at 445 American Way in Grenada, Mississippi and serves as the distribution center for the tenant’s manufacturing plant located less than one mile east of the property. 

Mike Sladich and Maggie Holmes of Stan Johnson Company represented the seller, an Illinois-based industrial developer, Agracel, Inc. Typically long-term holders, Agracel, Inc. recognized a unique opportunity to sell and took advantage of the current market dynamics. 

The buyer was a Dallas, Texas-based REIT. The property sold for approximately $21.3 million.

Mike Sladich 

“There continues to be strong investor demand for new industrial product, especially fungible warehouse space like ADP Grenada. We received a lot of interest from both institutional and private buyers, and we ultimately sold at full ask to an institution who closed in 45 days,” said Holmes, Director in Stan Johnson Company’s Atlanta, Georgia office. 

“At $74 per square foot, the property was placed well below replacement cost, and with construction costs still on the rise, this was an important metric to investors.”

 CONTACT:

 Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

www.stanjohnsonco.com.

KAI Design Welcomes Jake Wagoner, AIA, as Project Architect in its St. Louis, MO Office

Jake Wagoner

 St. Louis, MO -- KAI Design is pleased to announce the hiring of Jake Wagoner, AIA, NCARB, EDAC, LEED Green Associate, as Project Architect at its St. Louis office.

Wagoner has 13 years of industry design experience, with expertise in conceptual design layout, evidence-based design, sustainable building practices and construction administration.   “KAI is elated to have Jake join our design practice in St. Louis. Almost immediately he dove into several projects, all at different design phases and showcased his flexibility, collaborative style and technical skills,” said KAI Managing Partner Brad Simmons, FAIA.  Brad Simmons   Prior to KAI, Wagoner worked as a Project Architect for HOK in St. Louis where he designed renovations to Saint Francis Hospital’s Central Sterile Processing Department in Tulsa, Oklahoma, and also worked on the conceptual design for Indiana University Health’s $2 billion campus.    Wagoner has a Bachelor of Science in Business Administration from Saint Louis University and a Master of Architecture from Texas A&M University. He is a registered architect in Texas and is also certified through NCARB, EDAC and the U.S. Green Building Council.   CONTACT: Jennifer Beidle 314-607-9459 jennifer@jbeidlepr.com  www.kai-db.com.