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

Italian owners set up Luxembourg holding company

TRD New York /
Jul.July 25, 2017 05:15 PM

106 Prince Street (Credi: Google Maps)

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 lower their tax bill.

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. [Crain’s]Konrad Putzier


Related Articles

arrow_forward_ios
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

“For years we all laughed at them”: office brokers warm to virtual tours

“For years we all laughed at them”: office brokers warm to virtual tours
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

How to open up our offices on tonight’s TRD Talk

How to open up our offices on tonight’s TRD Talk
Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
CEO Andrew Florance (Credit: CoStar via YouTube)

CoStar buying Ten-X for $190M

CoStar buying Ten-X for $190M
Small landlords, such as Jan Lee, a New York landlord who owns two buildings, say Wall Street players will take their place unless rent relief comes soon. (Credit: Twitter; background via BRYAN R. SMITH/AFP via Getty Images)

Small landlords call for rent relief package, fearing Wall Street takeover

Small landlords call for rent relief package, fearing Wall Street takeover
Cohen Brothers Realty president and CEO Charles Cohen and Cushman & Wakefield Chairman of Global Brokerage Bruce Mosler

Hear from billionaire Charles Cohen on today’s TRD Talk

Hear from billionaire Charles Cohen on today’s TRD Talk
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...