French handbag retailer buys on Madison Ave. for $48M

TRD New York /
Jul.July 24, 2008 11:01 AM

 
Fashion bag maker Longchamp bought the building housing one of its two Manhattan retail stores on the Upper East Side for $48 million.

The Paris-based retailer and manufacturer of fashionable bags, clothes and accessories bought the five-story townhouse at 713 Madison Avenue from heirs to the Mailman family. The Mailmans have given millions of dollars to Columbia University’s School of Public Health.

The sellers were Jody Mailman Wolfe and another company affiliated with the family. Wolfe and the other company still own the neighboring townhouse at 715 Madison Avenue, which houses a ground-floor retail store for Moga Apparel, which sells French and Italian women’s clothes.

The sale of the property at 63rd Street, which lies in the Upper East Side Historic District, went into contract last November and closed July 16, according to city records published yesterday.

The 6,000-square-foot building includes residential apartments on the upper floors, a city filing said.

Longchamp and the sellers were not immediately available to comment.

A rider was included in the sale stating that the common wall between the two owners would be jointly owned. It allows for the extension of the wall.


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