Uniqlo buys 546 Broadway from Isaac Chetrit

The fashion brand’s flagship has been located in the building since 2006

New York /
May.May 24, 2021 02:35 PM
546 Broadway (Google Maps)

546 Broadway (Google Maps)

Japanese retailer Uniqlo has sewed up a deal to buy its New York City flagship.

The popular clothing brand reportedly paid AB & Sons — the firm led by Isaac, Eli and Abraham Chetrit — between $160 million and $200 million for the five-story, 95,500-square-foot property at 546 Broadway, sources tell The Real Deal.

The property has been in the Chetrit family since 1981, property records show. Uniqlo opened its first New York City store in the building in 2006, taking up 53,000 square feet over three levels.

In 2016, AB & Sons secured a $125 million refinancing from Wells Fargo on the property.

In addition to retail, the building contains 15 residential rentals and four office spaces.

Uniqlo has since opened and subsequently closed other locations in the city. In December, TRD reported that the company indicated in public filings that it would lay off 136 employees at 31 West 34th Street and close its store there.

Isaac Chetrit is the cousin of Chetrit Group founder Joseph Chetrit. Over the years, Isaac has acquired dozens of commercial properties, many in the Garment District. Isaac runs AB & Sons alongside his son Abraham and his brother Eli.

Neither Isaac Chetrit nor Uniqlo responded to requests for comment.





    Related Articles

    arrow_forward_ios
    Naftali Group's Miki Naftali, BRP Companies' Meredith Marshall (Photos by Paul Dilakian)
    Miki Naftali, Meredith Marshall talk development, death of 421a
    Miki Naftali, Meredith Marshall talk development, death of 421a
    R-L: Willow's Kevin Danehy, Era Ventures' Clelia Warburg Peters, Fifth Wall's Brad Greiwe and The Real Deal's Hiten Samtani (Photo by Paul Dilakian)
    Real estate tech is coming for your business
    Real estate tech is coming for your business
    Industrious CEO Jamie Hodari and CBRE chief financial and investment officer Emma Giamartino (LinkedIn, CBRE)
    CBRE doubles down on flex-office provider Industrious
    CBRE doubles down on flex-office provider Industrious
    New York skyline
    Rising interest rates will dampen city’s investment sales market this year
    Rising interest rates will dampen city’s investment sales market this year
    135 West 50th Street in Manhattan in NYC with George Comfort & Sons CEO Peter Duncan (Google Maps, George Comfort & Sons Inc.)
    George Comfort & Sons inks 62K sf tenant in Midtown
    George Comfort & Sons inks 62K sf tenant in Midtown
    Schenectady City Council president Marion Porterfield (Facebook, iStock)
    Destructive tenants driving upstate landlords to despair
    Destructive tenants driving upstate landlords to despair
    ABS Partners Real Estate founder Earle Altman and 270 Madison Avenue (ABS Partners, LoopNet, iStock)
    NY Public Library leases 41k sf for Midtown offices
    NY Public Library leases 41k sf for Midtown offices
    Legion Investment Group's Victor Sigoura and 26 East 84th Street (Getty Images, Google Maps, iStock)
    Old-guard landlords cash out in Manhattan, Bronx multifamily deals
    Old-guard landlords cash out in Manhattan, Bronx multifamily deals
    arrow_forward_ios

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

    Loading...