Chanel Acquires Mixed-Use Office Retail Property In Midtown East For $81.5M

Metropolitan Real Estate has sold a mixed-use office and retail property located at 15 East 57th Street in New York's Midtown East market. The property spans 54,000 square feet and was purchased by Chanel for a total of $81,500,000. The price per square foot for the transaction was $1,510.

Summary of Transaction Details

• Property Type: Mixed-Use Office Retail
• Transaction Amount: $81,500,000
• Address: 15 East 57th Street, New York
• Market: Midtown East
• Square Footage: 54,000 sf
• Price per Square Foot: $1,510

The buyer in this transaction was Chanel, represented by their director Karl Lagerfeld. Chanel is a well-known brand in the fashion industry, and the purchase of this property shows their investment in the New York real estate market. Metropolitan Real Estate acted as the seller in this deal, facilitating the successful transaction.