Browse all categories | Subscribe My Account | Logout
Browse all categories
< Back

Louis Vuitton's Soho home is for sale on European securities markets

People & Companies / Latest News

United States of America

Jul 26 2017

Add to Favorites

Share this Article:

Konrad Putzier

The Louis Vuitton building in Soho is up for grabs. There’s just one catch: Investors can’t buy the building outright but will have to purchase shares in a Luxembourg holding company set up by the property’s Italian owners to avoid taxes.

The property includes the five-story building at 106 Prince Street and neighboring retail condos at 102 Prince Street and 114-122 Greene Street, Crain’s reported. CBRE is marketing the property through its U.S.- and London-based teams.

Louis Vuitton leased the property’s entire 11,550-square-foot retail space through 2033, which could help insulate it from Soho’s current retail vacancy epidemic.

“There’s a negative sentiment in the market, so this is a real test for retail,” CBRE’s Ned Midgley told Crain’s.

The fashion company occupies the second floor of 106 Prince as an office, while the remaining three upper floors are market-rate apartments. The owners are three unnamed Italian families.

SOURCE: The Real Deal

img

You may also like...


Load More

bannerImage
bannerImage

Login into your MP Report account

Forgot my password

Sign up to the MP Report

Creating an account with MP Report allows you to save articles and update your preferences to filter the content based on your interests and what content you would like to receive from us via our email alerts and newsletter.

SIGN UP HERE >