Rodeo Drive’s Bijan store sells for record-breaking price-per-sf: report

Broker said it tops the $13,217 psf rate Chanel paid last year

Jul.July 15, 2016 02:00 PM

UPDATED, 11:00 a.m., Aug. 26: Rumor has it that Rodeo Drive saw a record-shattering sale.

The 6,287-square-foot Bijan store at 420 North Rodeo Drive recently sold for a higher value-per-square-foot than the Chanel building down the road, the Los Angeles Business Journal reported.

The transaction was the most expensive deal on the price-per-square-foot basis in the history of the famed Beverly Hills shopping destination, brokers say. The buyer as well as the price remains undisclosed, but given the Chanel price tag, the Bijan site sold for at least $67 million.

Chanel paid $152 million last December for the 11,500-square-foot storefront at 400 North Rodeo Drive, or $13,217 per square foot.

“It tops the Chanel deal,” the listing agent Bryan Ley of Holliday Fenoglio Fowler told the Business Journal. “It’s probably one of the most iconic buildings on Rodeo Drive, on one of the best blocks.”

Bijan, a luxury men’s clothing store, set up shop on Rodeo Drive about 40 years ago. It’s famous for the regular presence of yellow Rolls Royce and Bugatti parked outside.

Similar Rodeo properties rarely sell, and that’s why their value only goes up, JLL broker Houman Mahboubi told the Business Journal. [LABJ]Cathaleen Chen

Correction: An earlier version of this story misstated the size of the store to be 5,000 square feet. 

Related Articles


Rodeo refi: Properties on iconic Beverly Hills street land $160M loan

Beverly Hills landlord sued for refusing to remove plastic surgeon’s Rodeo Drive sign

Here are the LA County’s top five retail investment sales of 2018

These are LA County’s top 5 retail investment sales of October

Bernard Arnault buying Rodeo Drive double-lot for $250M: sources

Crown Equity buying Rodeo Drive property for $100M: sources

Everything must go: Brooks Brothers shutters Rodeo Drive storefront

Brooks Brothers double-lot on Rodeo Drive hits the market at $300M