The retail condominium housing Prada's flagship store at 841 Madison Avenue has sold for $57 million, with Aby Rosen's RFR Holding stepping back into the role of buyer after a stretch dominated by debt troubles and legal fights over its Manhattan holdings. The 18,000-square-foot space spans four floors at the base of the Hampton House Condominiums, putting the price at roughly $3,167 per square foot for one of the most recognizable storefronts on the Upper East Side.
RFR financed the purchase with a $40 million loan from Blue Owl Capital, according to PincusCo. That debt represents a leverage ratio of about 70 percent on the deal. As CoStar reports, the commercial condo unit sits at 841 Madison Avenue and is officially classified as an investment sale involving the retail base of the Hampton House Condominiums.
Prada first opened its U.S. flagship at the address in 1996, a store that was the luxury fashion house's largest retail location in the world at the time it debuted, according to the Commercial Observer. Three decades later, that corner retains its status as a marquee anchor for Madison Avenue's luxury shopping strip, with the Italian retailer still occupying the space.
The Seller
JSRE Acquisitions is a private investment firm tied to the Safra banking family's J. Safra Real Estate group and Status Capital, which has been actively rebalancing its Manhattan retail holdings.
Commercial brokers Ross Mezzo of Global Advisory and Ezra Saffati of Majestic Acquisitions negotiated the transaction on behalf of both RFR and JSRE Acquisitions.
RFR's Return to Buying, After a Rough Stretch
RFR’s Return to Buying, After a Rough Stretch The acquisition marks a notable pivot for RFR, which has spent recent months unloading assets rather than adding to its portfolio. RFR was evicted from the Chrysler Building near the end of 2024. RFR had also faced debt defaults and eviction disputes tied to other Manhattan properties during that period.
Hoodline previously reported that Aby Rosen won't leave 11 Howard, one of several standoffs that have defined RFR's recent headlines. The Madison Avenue purchase adds a luxury retail asset to RFR's portfolio.
Madison Avenue's Luxury Retail Keeps Drawing Big Buyers
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The 841 Madison Avenue unit is in Lenox Hill, according to Traded. For RFR, Prada’s continued occupancy offers a luxury retail presence as the firm works to rebuild its standing in prime Manhattan real estate.
JSRE Acquisitions also sold two SoHo buildings to Acadia for $60 million.
