Fashion Label Silvia Tcherassi Inks Lease for Former Saks Space in Palm Beach
By Julia Echikson December 22, 2025 2:55 pm
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Fashion label Silvia Tcherassi has found a permanent home on Palm Beach’s Worth Avenue in South Florida.
The Coral Gables-based brand signed a 1,420-square-foot lease in the space that previously housed a Saks Fifth Avenue department store, according to Odyssey Retail Advisors’ father and son duo, Bruce and Lee Koniver, who brokered the deal. The boutique is scheduled to open next November.
The deal marks the first lease executed in the space since Saks vacated earlier this year. The 50,000-square-foot department store is now being converted into eight retail suites, ranging from 900 to 2,500 square feet.
Saks served as the largest tenant in the 128,779-square-foot building at 150 Worth Avenue, next to South County Road. O’Connor Capital Partners purchased the 2-acre property, called The Esplanade, for $106 million in 2014, according to property records.
Silvia Tcherassi’s arrival is the latest shake-up on Worth Avenue, Palm Beach’s main shopping street. In November, Citadel billionaire Ken Griffin sold the commercial building across the street for $80.5 million.
Silvia Tcherassi, an upscale women’s wear brand that sells dresses for upward of $1,000, opened at a pop-up at The Brazilian Court hotel in Palm Beach this year. The brand operates 15 boutiques worldwide. On Worth Avenue, it’ll join other luxury brands such as Chanel, Ralph Lauren and Bottega Veneta.
Representatives for O’Connor Group and Silvia Tcherassi did not immediately respond to requests for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
