S
pencer Schlager's CS Ventures has acquired six luxury storefronts on Worth Avenue for $30.3 million. The investment firm purchased a 8,500-square-foot retail building at 243 Worth Avenue from Greenstone Realty Advisors, a Virginia-based company. This prime location is the epicenter of Palm Beach's luxury shopping district, with high-end tenants like Versace and Bottega Veneta.
The property has changed hands before; in 1997, a Greenstone Realty affiliate bought it for $7.1 million. Schlager and his partner Charles Rosenberg launched CS Ventures in 2017 and have since invested heavily in Palm Beach commercial real estate. Their portfolio includes several notable properties on Royal Palm Way, Brazilian Avenue, and South County Road.
Schlager cited the island's limited supply and high demand as reasons for targeting Palm Beach. He noted that the area has become a magnet for wealthy individuals seeking a haven for their assets. While CS Ventures is eyeing more island properties, Schlager declined to comment on future plans.
