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Ashkenazy Acquires Neiman Marcus Site in Beverly Hills
Ashkenazy Acquisition Corp., a private real estate investment firm owned by Ben Ashkenazy, has acquired the two-city-block Neiman Marcus site in the Beverly Hills Golden Triangle. The new acquisition positions the firm as the largest owner of premier retail space in the Triangle, joining the former Barneys building on Wilshire Boulevard and other holdings for a total of 350,000 square feet of high-end retail in the district.
Although Ashekenzy did not disclose the purchase price, the company cited recent comparable sales including the approximately $220-million acquisition of the Wilshire/Rodeo site by the Mateen Family and the approximately $100-million purchase of an 80,000-square-foot Wilshire Boulevard property by Alo for its new headquarters.
“Ashkenazy continues to demonstrate an uncanny ability to close on iconic assets with unparalleled speed,” said Jay Luchs, executive vice chairman at Newmark. The entire acquisition reportedly was completed in seven days.
- ◦Sale/Acquisition
