Miami, FL (PRWEB) April 05, 2017
Greenberg Traurig, P.A. Real Estate Shareholder David M. Layman represented the buyer in the $19.5 million purchase of the historic Via Bice located on Palm Beach’s Worth Avenue. The purchase of the property, which comprises 18,712 square feet of retail and second level office space in five buildings, closed March 24, 2017.
The buyer is Via Bice Worth Avenue, LLC, an entity affiliated with the Amirsaleh Family Trust. The family investment group, which has offices at 90 Via Mizner, is also the owner of Via Mizner and various other trophy retail and restaurant properties. The trust plans to modernize and renovate Via Bice using the talents of Palm Beach-based designers and architects.
The seller was Via 313-1/2 Worth Avenue, Ltd., which is affiliated with Tricony Management. Via Bice has two addresses: 313 1/2 Worth Avenue and 320 Peruvian Avenue.
“At nearly $1,004 per square foot, the sale price shows the continuing desirability of Worth Avenue as one of the premier retail streets in the country and one where investors see tremendous opportunity,” said Layman, a member of international law firm Greenberg Traurig’s Real Estate Practice in the firm’s West Palm Beach office.
Worth Avenue, which is considered to be one of the most expensive retail streets in the nation, is home to such stores as Cartier, Tiffany & Co., Chanel, Gucci, Graff Diamonds, Hermes, Louis Vuitton, and Salvatore Ferragamo. BiCE Ristorante is located within Via Bice.
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Greenberg Traurig, LLP (GTLaw) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia and the Middle East and is celebrating its 50th anniversary. One firm worldwide, GTLaw has been recognized for its philanthropic giving, was named the second largest firm in the U.S. by Law360 in 2016, and among the Top 20 on the 2016 Am Law Global 100. Web: http://www.gtlaw.com Twitter: @GT_Law.