Brooks Brothers CEO Ken Ohashi Buys Prospect Heights Condo

After spearheading a remarkable post-pandemic turnaround, it appears as if the Brooks Brothers CEO has treated himself to a new pad.

One Grand 16s, a limited liability corporation tied to Ken Ohashi, paid $9.45 million, or roughly $2,700 per square foot, for a penthouse condo unit at 1 Grand Army Plaza in Brooklyn.

The 3,500-square-foot apartment went into contract in May after spending a little less than a month on the market, The Real Deal previously reported.

The apartment has four beds and three baths, as well as 2,500 square feet of outdoor space, including a roof terrace. The unit also has a 60-foot living and dining room, renovated kitchen and floor-to-ceiling windows. It previously sold for $5.1 million in 2012.

Compass’ Libby Ryan, along with the Ryan + Ryan and The Leonard Steinberg teams had the listing.

The 15-story, 99-unit building designed by Richard Meier has a full-service staff, bike storage and parking. The all-glass building, which was developed by SDS Procida in 2005 and put on the market in 2008, was initially considered a failure, with the New York Times calling it “a wall of windows into the real estate bust” in 2009.

The property sold its first penthouse in 2011 for $3.97 million and by late summer 2012, the condominium building had sold out. Documentarian Ken Burns bought a three-bedroom unit for $2.75 million in 2014.

The penthouse home is just blocks away from Ohashi’s current residence at 168 St. Marks Avenue, located between Vanderbilt Avenue and Flatbush Avenue. Ohashi and his husband Adam Freed purchased the townhouse in 2015 for $4 million. The seven-bed, four-bath home is not currently on the market.

Ohashi’s latest purchase comes after a whirlwind couple of years at the helm of the beleaguered fashion retailer, which sold to mall giant Simon Property Group and apparel licensing firm, Authentic Brands Group for $325 million in August 2020 after declaring bankruptcy. The company suffered from the pandemic-induced remote working culture, which slowed foot traffic and devalued retail brands that emphasized business casual attire.

Ohashi took the helm of Brooks Brothers in 2020, months after the fashion brand filed for bankruptcy.

Nearly four years later, Ohashi appears to have led the company back into its pre-pandemic, billion-dollar sales echelon. Ohashi told Axios last year that aggressive markdowns of underperforming lines and a pivot into sportswear were keys to the company’s recovery.

Ohashi’s neighborhood of choice, Prospect Heights, is also on the rise. The area has seen several large rental buildings shoot up in the past couple years, and its median sales price in June was up 22.4 percent year-over-year, according to Redfin.