Richemont Group purchases retail condominium at New York St Regis

World’s second largest luxury group Richemont (owner of Cartier, Montblanc, Piaget, Chloe etc) acquired premium retail condominium at the St. Regis New York Hotel on Fifth Avenue for US$ 375 million — triple what the block of space traded for three years ago.

The condominium at St Regis which faces Fifth Avenue at East 55th Street is presently leased by multiple luxury retailers, including De Beers, Bottega Veneta and Pucci. Richemont presumably intends to open one of its stores at the site when space becomes available.

St Regis New York retail space acquired by Richemont