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The Real Deal Los Angeles

Louis Vuitton, Bijan sued over $122M sale of Rodeo Drive storefront

Two businessmen claim they were wrongfully cut out of the record-shattering deal

October 26, 2016 09:30AM

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Bijan storefront at 420 North Rodeo Drive

Bijan storefront at 420 North Rodeo Drive

Two L.A. businessmen say they were duped out of a commission on one of the year’s most fashionable deals.

Three months after the $19,405-per-square-foot, record-shattering sale of the Bijan storefront in Beverly Hills, both the seller and the eventual buyer, Louis Vuitton parent company LVMH, are being dragged into court by the two men, who were hired to help arrange a sale. 

In a complaint filed in July, Andrew Cohen and Vincent Bouvier claim they they were hired by Bijan president Dar Mahboubi to bring in possible buyers for the iconic bright yellow retail space in early 2016, Curbed reported.

Mahboubi had agreed to pay the plaintiffs a 1 percent finder’s fee — or $1.2 million, as the property sold for $122 million — after the sale closed, according to the lawsuit. But when LVMH entered into the picture, Mahboubi pushed Cohen and Bouvier out of the deal, they allege. Now, they’re seeking $2 million in damages.

Meanwhile, LVMH is likely planning to raze the store to make way for a bigger structure on the 7,629-square-foot lot.

The next hearing is scheduled for December 15, according to court records. [Curbed]Cathaleen Chen

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