London-based investor Aidan Brooks has apparently decided now is the time to unload his portfolio of top-end retail properties.
The Irish investor, head of Tribeca Holdings, is looking to sell the Rhinelander Mansion at 867 Madison Avenue, home of the Ralph Lauren Polo flagship store; 504 Broadway in Soho, which houses a Bloomingdale’s; along with other properties, the New York Post reported.
Tribeca could get as much as $200 million for the 114,000-square-foot 504 Broadway, a source told the Post. Brooks’ firm bought it back in 2007 for $34.5 million.
The Rhinelander Mansion sale at 867 Madison Avenue is already in contract, the Post reported, citing a source familiar with the negotiations, though the buyer and price are unknown. Tribeca paid $80 million for it in 2005.
Brooks was buying properties as recently as April of land year, when he picked up the 14,000-square-foot 710 Madison Avenue, home of Graff Diamonds, for $70 million.
But by July of last year, he was selling, unloading the Hermes store at 692 Madison Avenue on the Upper East for $115 million to Ashkenazy Acquisition. [NYP] – Ariel Stulberg