Louis Vuitton buys building next to flagship

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Luxury handbag retailer Louis Vuitton purchased a small office building
adjacent to its American flagship store at 1 East 57th Street for $60
million. The 10-story building at 743 Fifth Avenue was sold by
Centurion Realty, which bought the property three years ago for $28
million. Louis Vuitton hasn’t talked about its plans for the building,
which could accommodate an expansion.