New landlord spends $2 million to upgrade Bankers Row office buildings

230 and 240 Royal Palm Way in Palm Beach. (Meghan McCarthy/Palm Beach Daily News)
230 and 240 Royal Palm Way in Palm Beach. (Meghan McCarthy/Palm Beach Daily News)

After paying $21 million for two office buildings on Bankers Row in Palm Beach, a New York investor has dropped an additional $2 million to upgrade wiring, roofs, air conditioning and security.

“We’re really bringing the building up to what we consider New York Class A office space,” said John O’Connor of O’Connor Capital Partners.

O’Connor Capital bought 230 and 240 Royal Palm Way in January. The two buildings contain about 30,000 square feet of office space. Lease rates are $45 to $50 a square foot.

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