Less than two years after buying a retail condo at 715-717 Fifth Ave., Kering has moved the space to the sales rack.
The parent company of Gucci, Yves Saint Laurent and Balenciaga sold a 60% stake in the 115K SF property to French private equity firm Ardian. The transaction values the property at $900M, roughly 7% less than the $963M that Kering paid for the multilevel condo in January 2024.