LVMH picks up another Beverly Hills storefront near hotel development site

Los Angeles /
Jul.July 07, 2020 10:00 AM
Bernard Arnault and a map of the properties (Credit: ERIC PIERMONT/AFP via Getty Images, and Google Maps)
Bernard Arnault and a map of the properties (Credit: ERIC PIERMONT/AFP via Getty Images, and Google Maps)

Luxury goods conglomerate LVMH bought up another Beverly Hills storefront last month.

The 6,000-square-foot property at 449-453 N. Beverly Drive is adjacent to the Rodeo Drive development site where LVMH is planning a luxury hotel. The company paid $30 million for the property in June, according to the Los Angeles Business Journal.

That could mean it’s needed for the hotel project, a 115-room lodge branded under LVMH’s Cheval Blanc name. LVMH is the parent company of several luxury brands including Louis Vuitton, Hennessy, and Christian Dior.

The Beverly Drive storefront was vacant when LVMH bought it last month. It connects to the hotel site through an alley running parallel to Rodeo Drive and Beverly Drive. The seller was B & A Management Corp., according to property records.

LVMH paid a total of $355 million in 2018 for the two Rodeo Drive sites where it wants to build the Cheval Blanc Beverly Hills.

One is a 6,200 square foot property and the other is the double lot on the corner of Rodeo Drive and Santa Monica Boulevard — the longtime home of the Brooks Brother store.

In 2016, LVMH bought the former Bijan store a few parcels south on Rodeo Drive for $122 million sale. The $19,405-per-square-foot sale set a Rodeo Drive record for that metric. [LABJ]Dennis Lynch


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