🏆 Residential: Palm Beach had the top home sale recorded in the tri-county region, with the sale of a condo at 200 Bradley Place for just under $9 million. The sellers were brothers Leon and Peter Palandjian; their late parents owned the unit. Peter Palandjian is the CEO and chairman of International Real Estate Corporation, and Leon Palandjian is the firm’s chief risk officer. The buyer was H. Barry Gales. The three-bedroom unit has waterfront views and measures about 3,300 square feet. The deal works out to $2,700 per square foot. It went on the market with Corcoran’s Paulette Koch in November for $9.5 million.
🏆 Commercial: The priciest commercial real estate transaction to hit records in South Florida was in Fort Lauderdale, where a 12,100-square-foot, one-story retail property at 2000 Federal Highway and an adjacent parking lot with 30 spaces traded for $6.9 million. The buyer was an affiliate of El Car Wash, and the seller, who had owned the site for decades, was an LLC led by Ilan Neuwirth of Inn Real Estate. Native Realty had the listing, which had an asking price of $7 million.
📊 Residential: In Delray Beach, a waterfront home at 715 Southeast Eighth Street changed hands for $7.6 million, or about $1,800 per square foot. The sellers were former NFL quarterback Rex Grossman and his wife, Alison Grossman, and the buyer was a trust tied to Michael Manning. The nearly 4,100-square-foot property has four bedrooms, four and a half baths, a pool and a private dock. The Grossmans purchased the property in 2019 for $2.9 million and put it on the market in April for $7.7 million. Douglas Elliman’s Christopher Scoppettone represented both parties in the deal.
📊 Residential: For $6.9 million, Drs. James and Susan Benenati sold their home at 7400 Southwest 47th Court in Miami to an affiliate of Alex Pirez’s Mocca Group. The deal penciled out to about $1,500 per square foot for the 4,500-square-foot home, which was built in the 1950s. It has five bedrooms, four bathrooms and a pool. The Benenatis purchased the house, which sits on a 1-acre lot, in 1992. It went on the market in May with an asking price of $8.3 million. Pirez represented himself in the transaction, and the Benenatis were represented by Nancy Sanabria with Compass.
By the Numbers: Where are Saks Global’s stores affected by bankruptcy?
Saks Global filed for Chapter 11 bankruptcy protection on Wednesday, potentially leaving large chunks of valuable real estate empty. At stake are 173 retail stores that may be shuttered, according to analysis by TRD Data.
Saks Global, which on its website claims to own or control some 13 million square feet of leasable area, also owns Neiman Marcus, which it acquired for $2.7 billion in 2024, and outlet offshoots like Last Call. Saks Off 5th, one of these discount retailers, occupies about half of Saks Global’s stores, 77 out of 173. Most of those stores are in California and Florida, which have 12 a piece.
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