The Real Deal Miami

Banker’s Row buildings to head to foreclosure auction

Last sold for $2.8M
March 20, 2015 03:45PM

230 and 240 Royal Palm Way on Banker's Row in Palm Beach

230 and 240 Royal Palm Way on Banker’s Row in Palm Beach

Two office buildings on Banker’s Row in Palm Beach are reportedly set to be auctioned off online. 

FJK Properties and FJK III Properties lost a nearly $11 million foreclosure judgment, according to a published report, against General Electric Capital Corp. Tenants include Fidelity Investments, Wilmington Trust and Blue Sea Capital, according to the Palm Beach Daily News.

The 19,242-square-foot building at 230 Royal Palm Way and the 10,296-square-foot building at 240 Royal Palm Way are headed to an online auction in May, the South Florida Business Journal reported. FJK bought the buildings for a total of $2.8 million in 1996 and 1997, according to Palm Beach County property records. They were built between 1950 and 1957. Combined, the sites are nearly one acre. [South Florida Business Journal]Katherine Kallergis