(This story was updated to add new information.)
Two real estate investors have expanded their Palm Beach commercial property portfolio with their first purchase on Worth Avenue, a deal recorded at $30.255 million in the 200 block of the world-famous shopping destination.
A company affiliated with CS Ventures — a joint venture headed by Spencer J. Schlager and Charles “Charlie” L. Rosenberg — is on the buyer’s side of the retail building addressed as 237-243 Worth Ave. near Hibiscus Avenue, the Palm Beach Daily News has confirmed. The off-market sale closed late last week, according to people familiar with the deal.
The Palm Beach Daily News is the first media outlet to report the sale.
The building has 9,536 square feet, Schlager said. Based on that measurement, the building traded for $3,173 per square foot.
The renovated building was built in 1925 and is fully leased. Its apparel and accessory boutiques include Versace , Valentina Kova , Bottega Veneta, 55 Corisette and Poupette St. Barth. Maison Maurice , a jewelry store, also is a tenant.