Top 5 NYC Retail Building Sales—January 2024
A recap of recent major transactions compiled by PropertyShark.
Sale Price: $963,000,000
Wharton Properties sold the 26-story retail building totaling 80,834 feet in Central Midtown. The deal also included the 23,128-square-foot office building at 717 Fifth Ave. #4-OFF. French luxury group Kering Americas Inc., that owns Gucci, Alexander McQueen and Balenciaga is the new owner of the office and retail space.
Sale Price: $425,000,000
Italian fashion brand Prada acquired the 13,648-square-foot, 12-story building, along with the 36,692-square-foot 724 Fifth Ave #B and the 4,137-square-foot 724 Fifth Ave. #C from seller Wharton Properties. The Central Midtown property housed its flagship store since 1997, where Prada rented five stories, and new plans include the establishment of office and storage space, according to Reuters.
Sale Price: $150,500,000
Miami-based Gazit Horizons Inc sold the 93,139-square-foot, 38-story retail building together with the 28,702-square-foot garage structure at 401 E. 60th St. #GARGE to Ontario-based Hennick & Co. Built in 1999, the Lenox Hill retail property last changed hands in 2017, when The Brodsky Organization sold it for $71.2 million.
Sale Price: $34,357,204
Waterfall Masion & Gallery owner gave up the 11,012-square-foot, five-story asset to ACRES Capital in a lieu of foreclosure transaction. The private investor owned the property since 2008, when it acquired it for $8.5 million, while later in 2014 the Waterfall Mansion & Gallery was opened.
Sale Price: $33,000,000
A private investor sold the 29,586-square-foot retail building in SoHo to an entity connected to the Brandy Melville fashion brand, according to Pincus Co. The six-story asset is originally built in the 1900’s and is close to multiple bus and subway stations, the closest one being the Broadway & Prince Street station.
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