Palm Beach’s 324 Royal Palm Way office building sells for $12.4 million

The 324 Royal Palm Way office building in Palm Beach has been sold for $12.35 million to Gulf Stream Investment Partners. The sellers were Rockpoint Group and Steeprock Capital, which was represented by BlueGate Partners. The Class A property’s tenants include U.S. Bank, Citibank, Tiedemann Wealth Management and Impala Asset Management. The property has a total of 25,065 rentable square feet. “This was an exceptional opportunity to acquire a trophy asset in a highly desirable location,” said BlueGate’s Eric Bylin. BlueGate has offices in New York and Palm Beach. — Alexander Britell