Reuben Brothers Pay $200M for Retail Complex on Palm Beach’s Worth Avenue
The seller, O’Connor Capital Partners, acquired the 2-acre asset for $106 million in 2014
By Julia Echikson March 26, 2026 4:50 pm
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The Reuben Brothers have extended their South Florida real estate shopping spree.
The British billionaire investors, alongside Crown Onyx, paid $200 million for a retail complex on Palm Beach’s swanky Worth Avenue, property records show.
Called the Esplanade, the two-story property totals 128,779 square feet, occupying nearly a full block, at 150 Worth Avenue. Tenants include luxury fashion labels Emilio Pucci and Akris, watchmaker Hublot, as well as Starbucks.
Since 2023, both Louis Vuitton and Saks Fifth Avenue have departed the Esplanade after 40 years, with Louis Vuitton relocating down the road and Saks closing its 50,000-square-foot location.
The seller, O’Connor Capital Partners, had purchased the 2-acre asset for $106 million in 2014.
Since the pandemic, the Palm Beach area has continued to see an influx of high-net-worth individuals thanks to Florida’s lack of state income tax. High-profile companies, such as Wells Fargo, Goldman Sachs and J.P. Morgan Chase, have opened new offices.
The sale comes just five months after billionaire Ken Griffin sold the 48,578-square-foot building across the street, which housed a Neiman Marcus department store, for $80.5 million to the family of GoldenTree Asset Management financier Steven Tananbaum.
The purchase also adds to the Reuben Brothers’ growing South Florida portfolio. Brothers David and Simon, who first made their fortune in metals trading, own the retail building leased to Tiffany & Company at 259 Worth Avenue, which they purchased for $26.4 million in 2020.
In 2022, the Reubens bought the Vineta Hotel, also on Palm Beach, for $42 million. The 53-room establishment, formerly called the Chesterfield, reopened this year following a renovation. Down in Miami Beach, the brothers purchased the oceanfront W hotel for $425 million two years ago.
Representatives for the Reuben Brothers and O’Connor did not immediately respond to a request for comment. A spokesman for Crown Onyx could not be reached for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
