7 Proven Ken Griffin Selling Worth Avenue Complex for $81M: Mistakes to Avoid

Billionaire Citadel founder Ken Griffin is selling a prime strip of Palm Beach’s Worth Avenue for $80.5 million, three years after buying it for $78 million.

Ken Griffin Selling Worth helps improve planning, consistency, and publishing quality when teams follow a repeatable workflow.

Sources confirmed the buyer of the 48,600-square-foot building at 151 Worth Avenue is TZ Capital, a West Palm Beach-based real estate investment firm led by Sam Zuckert, Tyler Tananbaum and Teddy Tananbaum.

The sale is expected to close Monday, a source close to the deal confirmed. TZ Capital plans an extensive renovation of vacant retail spaces and is aiming for boutique retailer tenants. A source close to the firm also confirmed the building’s underground parking will be reopened with valet services. 

The Tananbaums are the sons of Steven A. Tananbaum, the founder of the New York-based hedge fund GoldenTree Asset Management. In June, GoldenTree and TZ Capital teamed up with Bank OZK to provide $600 million in financing for Steve Ross’ planned South Flagler House condo project in West Palm Beach. 

The Worth Avenue complex was the longtime home of Neiman Marcus, until the retailer shuttered in 2020 amid pandemic difficulties, according to published reports. Griffin bought the complex from O’Connor Capital Partners for $78 million in 2022. The building was built in 2000, less than a block away from the beach and the Worth Avenue clock tower. 

Griffin’s other Palm Beach holdings include the adjacent office building at 125 Worth Avenue, which he bought for $83 million in 2023, and a 17.7-acre residential assemblage on South Ocean Boulevard that he spent at least $350 million to acquire. He is building a residential compound on the property that will include a 20,000-plus-square-foot mansion for his mother. 

The trade follows Palm Beach’s last department store, Saks Fifth Avenue, closing its doors across the street at the Esplanade at 150 Worth Avenue in April. Records show O’Connor Capital Partners bought the 2-acre complex for $104 million in 2014. In April, the firm announced plans to redevelop the 50,000-square-foot Saks space with design firm Fairfax & Sammons Architecture, according to a press release. 

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var(–wp–preset–gradient–midnight) !important;}.has-small-font-size{font-size: var(–wp–preset–font-size–small) !important;}.has-medium-font-size{font-size: var(–wp–preset–font-size–medium) !important;}.has-large-font-size{font-size: var(–wp–preset–font-size–large) !important;}.has-x-large-font-size{font-size: var(–wp–preset–font-size–x-large) !important;}”,”type”:”list”,”__typename”:”StyleItem”}],”post”:{“id”:”cG9zdDoxMDAwODYz”,”databaseId”:1000863,”title”:”TZ Capital buying Palm Beach’s former Neiman Marcus building from Ken Griffin for $81M”,”status”:”publish”,”slug”:”ken-griffin-selling-worth-avenue-complex-for-81m”,”uri”:”/miami/2025/11/14/ken-griffin-selling-worth-avenue-complex-for-81m/”,”link”:”https://therealdeal.com/miami/2025/11/14/ken-griffin-selling-worth-avenue-complex-for-81m/”,”dateGmt”:”2025-11-14T21:58:54″,”contentTypeName”:”post”,”contentFiltered”:”u003cpu003eBillionaire Citadel founder Ken Griffin is selling a prime strip of Palm Beach’s Worth Avenue for $80.5 million, three years after buying it for $78 million.u003c/pu003enu003cpu003eSources confirmed the buyer of the 48,600-square-foot building at 151 Worth Avenue is TZ Capital, a West Palm Beach-based real estate investment firm led by Sam Zuckert, Tyler Tananbaum and Teddy Tananbaum.u003c/pu003enu003cpu003eThe sale is expected to close Monday, a source close to the deal confirmed. TZ Capital plans an extensive renovation of vacant retail spaces and is aiming for boutique retailer tenants. A source close to the firm also confirmed the building’s underground parking will be reopened with valet services.u0026nbsp;u003c/pu003enu003cpu003eThe Tananbaums are the sons of Steven A. Tananbaum, the founder of the New York-based hedge fund GoldenTree Asset Management. In June, GoldenTree and TZ Capital teamed up with Bank OZK to u003ca href=”/miami/2025/06/10/steve-ross-lands-600m-loan-for-west-palm-beach-condos/”u003eprovide $600 million in financingu003c/au003e for Steve Ross’ planned South Flagler House condo project in West Palm Beach.u0026nbsp;u003c/pu003enu003cpu003eThe Worth Avenue complex was the longtime home of Neiman Marcus, until the retailer shuttered in 2020 amid pandemic difficulties, according to published reports. Griffin bought the complex from O’Connor Capital Partners for $78 million in 2022. The building was built in 2000, less than a block away from the beach and the Worth Avenue clock tower.u0026nbsp;u003c/pu003enu003cpu003eGriffin’s other Palm Beach holdings include the adjacent office building at 125 Worth Avenue, which he bought for u003ca href=”/miami/2023/07/17/ken-griffins-citadel-drops-83m-for-office-building-on-palm-beachs-worth-ave/”u003e$83 millionu003c/au003e in 2023, and a 17.7-acre residential assemblage on South Ocean Boulevard that he spent u003ca href=”/miami/2022/09/09/ken-griffins-south-florida-portfolio-surpasses-1b/”u003eat least $350 millionu003c/au003e to acquire. He is building a residential compound on the property that will include u003ca href=”/miami/2022/07/13/heres-the-oceanfront-estate-ken-griffin-plans-to-build-for-his-mom-in-palm-beach/”u003ea 20,000-plus-square-foot mansion for his motheru003c/au003e.u0026nbsp;u003c/pu003enu003cpu003eThe trade follows Palm Beach’s last department store, Saks Fifth Avenue, closing its doors across the street at the Esplanade at 150 Worth Avenue in April. Records show O’Connor Capital Partners bought the 2-acre complex for $104 million in 2014. In April, the firm announced plans to redevelop the 50,000-square-foot Saks space with design firm Fairfax u0026amp; Sammons Architecture, according to a press release.u0026nbsp;u003c/pu003en”,”noAds”:false,”alternativeHeadline”:{“subheadline”:”Griffin bought the property at 151 Worth Avenue for $78M in 2022, two years after the department store shuttered”,”__typename”:”AlternativeHeadline”},”updatedPost”:{“updated”:false,”date”:”2025-11-14T22:12:00+00:00″,”__typename”:”UpdatedPost”},”aiSummary”:{“summary”:”u003cpu003eu003c!– wp:list –u003eu003c/pu003ernu003cul class=”wp-block-list”u003eu003c!– wp:list-item –u003ernu003cliu003eBillionaire Citadel founder Ken Griffin is selling the 48,600-square-foot former Neiman Marcus building at 151 Worth Avenue in Palm Beach for $80.5 million to TZ Capital, having purchased it for $78 million in 2022.u003c/liu003ernu003c!– /wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eThe buyer, West Palm Beach-based real estate investment firm TZ Capital, plans an extensive renovation of the vacant retail spaces to attract boutique tenants and will reopen the building’s underground parking with valet services.u003c/liu003ernu003c!– /wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eThe transaction is part of broader activity on Worth Avenue, following the closure of Saks Fifth Avenue across the street, and adds to Griffin’s extensive Palm Beach real estate portfolio, which includes an adjacent office building and a large residential assemblage.u003c/liu003ernu003c!– /wp:list-item –u003eu003c/ulu003ernu003cpu003eu003c!– /wp:list –u003eu003c/pu003e”,”reviewed”:true,”disabled”:false,”autoGenerate”:false,”__typename”:”AISummary”},”audioArticleSettings”:{“audioUrl”:”https://eleven-public-cdn.elevenlabs.io/audio-native/a24c95b71e45d877e2798ceb32ef0ff8b1d79dced18bffc58f5b3a0c6e8468ac/FEQU2wxps5w6BPGK812d/FEQU2wxps5w6BPGK812d.mp3″,”__typename”:”AudioArticleSettings”},”mainArt”:{“mediaType”:”image”,”image”:{“node”:{“sourceUrl”:”/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-1400×933.jpg”,”srcSet”:”/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-1400×933.jpg 1400w, /wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-300×200.jpg 300w, /wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-700×467.jpg 700w, /wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-200×133.jpg 200w, /wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-768×512.jpg 768w, 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https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-300×200.jpg 300w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-700×467.jpg 700w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-200×133.jpg 200w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-768×512.jpg 768w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-1024×683.jpg 1024w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB-50×33.jpg 50w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:null,”altText”:”Tyler Tananbaum, Ken Griffin, and Sam Zuckert with 151 Worth Avenue (Google Maps, Getty)”,”mediaDetails”:{“sizes”:[{“width”:”1400″,”height”:”933″,”__typename”:”MediaSize”}],”__typename”:”MediaDetails”},”__typename”:”MediaItem”},”__typename”:”NodeWithFeaturedImageToMediaItemConnectionEdge”},”__typename”:”Post”,”template”:{“templateValue”:”right-rail”,”__typename”:”DefaultTemplate”},”seo”:{“title”:”Ken Griffin Selling Worth Avenue Complex for $81M”,”fullHead”:”u003c!– This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v26.1.1) – https://yoast.com/wordpress/plugins/seo/ –u003enu003cmeta name=”description” content=”Billionaire Citadel founder Ken Griffin is selling a prime strip of Palm Beach’s Worth Avenue for $80.5 million, three years after buying it for $78 million.” /u003enu003cmeta name=”robots” content=”index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1″ /u003enu003clink rel=”canonical” href=”https://therealdeal.com/miami/2025/11/14/ken-griffin-selling-worth-avenue-complex-for-81m/” /u003enu003cmeta property=”og:locale” content=”en_US” /u003enu003cmeta property=”og:type” content=”article” /u003enu003cmeta property=”og:title” content=”TZ Capital buying Palm Beach’s former Neiman Marcus building from Ken Griffin for $81M” /u003enu003cmeta property=”og:description” content=”Billionaire Citadel founder Ken Griffin is selling a prime strip of Palm Beach’s Worth Avenue for $80.5 million, three years after buying it for $78 million.” /u003enu003cmeta property=”og:url” content=”https://therealdeal.com/miami/2025/11/14/ken-griffin-selling-worth-avenue-complex-for-81m/” /u003enu003cmeta property=”og:site_name” content=”The Real Deal” /u003enu003cmeta property=”article:publisher” content=”https://www.facebook.com/therealdealmedia/” /u003enu003cmeta property=”article:published_time” content=”2025-11-14T21:58:54+00:00″ /u003enu003cmeta property=”article:modified_time” content=”2025-11-14T21:59:17+00:00″ /u003enu003cmeta property=”og:image” content=”https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-Ken-Griffin-to-Sell-NM-Building-in-PB.jpg” /u003entu003cmeta property=”og:image:width” content=”1500″ /u003entu003cmeta property=”og:image:height” content=”1000″ /u003entu003cmeta property=”og:image:type” content=”image/jpeg” /u003enu003cmeta name=”author” content=”Kate Hinsche” /u003enu003cmeta name=”twitter:card” content=”summary_large_image” /u003enu003cmeta name=”twitter:description” content=”Billionaire Citadel founder Ken Griffin is selling a prime strip of Palm Beach’s Worth Avenue for $80.5 million, three years after buying it for $78 million. Sources confirmed the buyer of the 48,600-square-foot building at 151 Worth Avenue is TZ Capital, a West Palm Beach-based real estate investment firm led by Sam Zuckert, Tyler Tananbaum and Teddy Tananbaum. The sale is expected to close Monday, a source close to the deal confirmed. TZ Capital plans an extensive renovation of vacant retail spaces and is aiming for boutique retailer tenants. A source close to the firm also confirmed the building’s underground [u0026hellip;]” /u003enu003cmeta name=”twitter:creator” content=”@trdny” /u003enu003cmeta name=”twitter:site” content=”@trdny” /u003enu003cmeta name=”twitter:label1″ content=”Written by” /u003entu003cmeta name=”twitter:data1″ content=”Shea Monahan” /u003entu003cmeta name=”twitter:label2″ content=”Est. reading time” /u003entu003cmeta name=”twitter:data2″ content=”2 minutes” /u003enu003cscript type=”application/ld+json” class=”yoast-schema-graph”u003e{“@context”:”https://schema.org”,”@graph”:[{“@type”:”NewsArticle”,”@id”:”https://therealdeal.com/miami/2025/11/14/ken-griffin-selling-worth-avenue-complex-for-81m/#article”,”isPartOf”:{“@id”:”https://therealdeal.com/miami/2025/11/14/ken-griffin-selling-worth-avenue-complex-for-81m/”},”author”:[{“@type”:”Person”,”@id”:”https://therealdeal.com/#/schema/person/772e8eeff7747b84a41fe5a92c120594″,”name”:”Kate 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Sources confirmed the buyer of the 48,600-square-foot building at 151 Worth Avenue is TZ Capital, a West Palm Beach-based real estate investment firm led by Sam Zuckert, Tyler Tananbaum and Teddy Tananbaum. The sale is expected to close Monday, a source close to the deal confirmed. TZ Capital plans an extensive renovation of vacant retail spaces and is aiming for boutique retailer tenants. 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Ken Griffin Selling Worth: What to Plan Before You Start

Ken Griffin Selling Worth: Practical Checklist

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