By Brian Bandell – Real Estate Editor, South Florida Business Journal Sep 1, 2026
Story Highlights • Redfearn Capital sold a Palm Beach office building for $17.475 million. • The property more than doubled in value since purchase in August 2025. • Palm Beach office market has tightened with 4.8% vacancy rate. Redfearn Capital flipped a boutique office building on Palm Beach for $17.475 million, as the seller more than doubled its value after flipping the property after a year.
Peruvian Property Owner LLC, managed by Alex Redfearn of Delray Beach-based Redfearn Capital, sold the 6,474-square-foot office at 317 Peruvian Ave. to 317 Peruvian LLC, care of attorney M. Timothy Hanlon in Palm Beach. The price equated to $2,658 per square foot.
Redfearn purchased the office for $8.4 million in August 2025, so it more than doubled in value.
The tenants there include Sotheby’s International Realty, Pizza Al Fresco and Caroline Rafferty.
The building was constructed on the 0.22-acre site in 2002.
The office market in Palm Beach has exploded as even more billionaires move to the town, and there hasn’t been new office development there in years.
According to the second quarter report from Colliers, the office vacancy rate in the town of Palm Beach is 4.8% and the average asking rent is $112,440 per square foot.
See original article here: https://www.bizjournals.com/southflorida/news/2026/09/01/redfearn-flips-palm-beach-office-for-17-5m.html
