Former Dolce & Gabbana SoHo Flagship Trades at a Discount

Weybourne Group, the United Kingdom-based family office of James Dyson purchased the 3-story, approximately 15,418-square-foot building that was formerly occupied in its entirety under a triple-net lease by fashion house Dolce & Gabbana to serve as its SoHo flagship. The former firehouse had been acquired by Thor Equities in 2013 for $27.25 million according to city records, undergoing renovations that included the restoration of the 1854 façade and a new storefront. In 2016, Bethesda-based ASB Real Estate Investments purchased a majority stake, valuing the building located between West Houston and Prince Streets at $93 million — significantly higher than the $60 million recently paid by Weybourne Group.