Redfearn Capital Sells 317 Peruvian in Palm Beach for $18M

Redfearn Capital sold its retail and office building at 317 Peruvian Avenue in Palm Beach for $18 million, more than double the $8.4 million it paid for the property in late 2025. The deal, about a block off Worth Avenue, works out to roughly $2,780 a square foot after a hold of just under a year.

Why it matters

A 2.1x return on a Palm Beach small-bay building in about twelve months is a hard number for anyone underwriting similar deals on the island, where inventory is scarce and on-site parking is rarer still. The 2002 Mediterranean Revival low-rise has built-in parking, a feature few buildings near Worth Avenue can offer, and it came with paying tenants already in place, including Sotheby’s International Realty, Pizza Al Fresco and Caroline Rafferty. Redfearn had bought the property expecting a longer hold. Instead, an unnamed buyer moved fast enough to change that math. “An offer we couldn’t refuse,” Redfearn said of the deal. For developers and investors circling South Florida retail and office assets, the sale is a live data point on how quickly a well-located, tenanted small building on Palm Beach island can reprice.

The numbers

Redfearn Capital bought 317 Peruvian Avenue for $8.4 million in late 2025 and sold it for $18 million, a 2.1x gain in roughly a year. Redfearn’s own listing puts the building at 6,474 square feet, which maps to about $2,780 per square foot at the $18 million sale price, the figure cited in the deal’s reporting. The buyer has not been disclosed.

What’s next

The buyer’s identity and plans for the tenanted building remain unknown, and no permit or listing activity tied to a change in use has surfaced yet. With Worth Avenue-adjacent inventory this tight, any resale, refinance or repositioning at 317 Peruvian Avenue would be the next marker worth watching for anyone pricing similar small-bay retail and office deals on the island.