Uniqlo Buys 546 Broadway Flagship Building for Nearly $200M
The Japanese-based clothing retailer bought its longtime SoHo flagship at 546 Broadway from AB & Sons — owned by Isaac, Eli and Abraham Chetrit — for between $160 to $200 million, The Real Deal reported.
Uniqlo has leased 53,000 square feet in the five-story building — which also has apartments and office space — since 2006 and renewed its lease in 2014, TRD reported.
The clothing store isn’t alone among retailers in jumping on the pandemic-caused distress to buy New York-area properties at a bargain.
Home-furnishing company Safavieh bought the Stamford Town Center mall in Connecticut for $20 million recently, while Swiss clothing brand Akris bought three Madison Avenue buildings for $45 million, The Wall Street Journal reported.
Representatives from Uniqlo and AB & Sons did not immediately respond to requests for comment.