Spec home developer Todd Michael Glaser and his partners have closed on the penthouse on top of the Worth Avenue Tiffany & Co. building in Palm Beach for $15.5 million. The residence was delivered as an unfinished shell and the investors plan to complete the residence and list it at potentially $40 million. The penthouse occupies the buildings second floor and rooftop and spans 13,000+/- SF.
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Worth Avenue Tiffany & Co. Building Sells For $26.4 Million
A joint venture led by an entity tied to Fortress Investment Group has sold 259 Worth Avenue in Palm Beach, anchored by luxury jeweler Tiffany & Co., for $26.4 million to Motcomb Estates, a London-based real estate investment firm.
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Want to Live at Tiffany's? $17.5M Palm Beach Penthouse Floats Above Luxury Retailer
259 Worth Avenue is the first property of its kind and will be the largest condominium in Palm Beach with 13,000+/- square feet once finished. It represents a once-in-a-lifetime opportunity to own the only penthouse above luxury jeweler Tiffany's on the iconic Worth Avenue in the heart of Palm Beach.
This unique penthouse will encompass an upscale lifestyle: it is central to fine dining, world class fashion and art, and a short stroll away from the beach. It features five bedrooms, seven and a half baths, master suite, maid's quarters, three fireplaces, state of the art technology, elevator and a private rooftop overlooking panoramic views of Worth Ave. The rooftop’s distinctive exterior spa will boast an infinity edge swimming pool, sunbathing areas, putting green, outdoor bar, dining area and fire pit for the ultimate outdoor entertaining space.
Award winning, nationally recognized Design/Build firm Kean Development Company is working with a local architect on the property, which is being offered by Douglas Elliman as a shell for the buyer to build out during the summer of 2021.
Images via Douglas Elliman.
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By Stephanie Warren
Palm Beach Approves Plan For Luxe Condo Atop Tiffany & Co. Building On Worth Avenue
The Town of Palm Beach has approved plans for a luxury condo atop the iconic Tiffany & Co. building on Palm Beach’s Worth Avenue, one of the ritziest, most expensive streets in the United States. The addition would include the conversion of the existing 2nd floor as well as adding a 3rd floor spa and pergola which would not be visible to pedestrians on the street.
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