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Barneys’ first ever store on sale for $50M
Final deal at embattled retailer’s 97-year-old birthplace at 101 Seventh Avenue
It’s the final sale at Barneys’ birthplace.
The embattled retailer’s owner has put its downtown Manhattan property at 101 Seventh Avenue — where it launched its business in 1923 — on the market.
The firm is reportedly seeking $50 million for the 51,942-square-foot retail condominium, the New York Post reported. JLL is marketing the site.
Barneys filed for bankruptcy in August, then was acquired for $270 million by Authentic Brands Group and B. Riley in October. The new owners planned to close most of the retailer’s locations, though its flagship store at 660 Madison is expected to remain open.
Barneys closed the downtown location in 1993 before reopening in 2016 after an apparel clothing store moved out. However, amid its financial troubles, it closed again this year, the Post reported.
In 2011, Miami-based REIT Equity One purchased a fee interest in the condominium for $55 million, The Real Deal previously reported. [NYP] — David Jeans