Dolce & Gabbana

November 17, 2016 Comments Off on ASB Pays $93 Million for Dolce & Gabbana Flagship Views: 275 National News, New York, Northeast

ASB Pays $93 Million for Dolce & Gabbana Flagship

Dolce & Gabbana hasn’t even opened its new flagship store in New York City’s Soho neighborhood, and the building already has a new owner promising an extensive renovation. ASB Real Estate Investment paid $93 million for a majority stake in 155 Mercer St., a historic building on the same block as retailers Marc Jacobs, Marni, Tory Burch, Balenciaga, Prada, Versace, and Vera Wang.

ASB bought its share from Thor Equities, which remains a partner in the ownership of the building. Thor reportedly purchased the building from the Joyce Theater Foundation in 2013 for $27.3 million.

Dolce & Gabbana signed a long-term, triple-net lease for the whole building earlier this year. High-ceilings and historic detail grace the three-story, 14,600-square-foot, retail space, built as a firehouse in 1854. ASB plans a restored façade as well as new storefront, building systems, elevators, and skylight windows.

— Bendix Anderson

Read More at Commercial Observer

Connect with ASB’s Brodie Ruland

For comments, questions or concerns, please contact Amy Sorter

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , ,

Comments are closed.