An Upper East Side retail condominium at 841 Madison Avenue has traded hands for $57 million, Commercial Observer has learned.<\/p>\n
JSRE Acquisitions<\/a>, which is associated with the Safra family and Status Capital, sold the East 70th Street unit occupied by luxury fashion house Prada<\/a> to Aby Rosen and Michael Fuchs\u2018s RFR Holding<\/a>, according to the brokers.<\/p>\n SEE ALSO: Friedman\u2019s Restaurant Ownership Buys Upper West Side Retail Space to Open New Spot<\/a><\/p>\n Global Advisory<\/a> founder Ross Mezzo and Ezra Saffati from Majestic Acquisitions<\/a> represented the buyer and the seller.<\/p>\n \u201cThis sale is a clear signal that Madison Avenue has fully reclaimed its position as a premier luxury retail corridor in Manhattan. With Prada anchoring this retail condo, we\u2019re seeing exactly the kind of high-caliber tenancy that\u2019s driven rents up and quality up across Madison Avenue over the past 18 months,\u201d Mezzo said in a statement to CO.<\/p>\n It\u2019s unclear when JSRE acquired the property and what the value of that transaction was, but the retail unit traded for $51 million to Ashkenazy Acquisitions in 2010, The Real Deal reported<\/a> at the time.<\/p>\n The retail condo spans 18,000 square feet across four floors, according to Mezzo. Prada opened its flagship U.S. store there way back in 1996, which at that time was the luxury retailer\u2019s largest store in the world.<\/p>\n Saffati and spokespeople for RFR and JSRE did not immediately respond to requests for comment.<\/p>\n RFR Holding recently created RFR US<\/a>, an investment firm that will be helmed by Rosen\u2019s sons, Gaby Rosen and Charlie Rosen and focus on new office and high-end retail assets.<\/p>\n But RFR Holding has appeared to have fallen into tougher times lately with the sale of 281 Park Avenue South, best known as the old stomping grounds of fake heiress Anna Delvey. The firm offloaded the property in July<\/a> for $81.5 million, compared to the $135 million it was originally listed for.<\/p>\n At the end of 2024<\/a>, RFR was also evicted from the Chrysler Building after missing $21 million in ground-rent payments to Cooper Union.<\/p>\n Meanwhile, JSRE has been busy with retail sales in Manhattan lately. Just this week, the investment firm sold<\/a> two residential and retail buildings in SoHo at 69 Greene Street and 71-73 Greene Street to Acadia Realty Trust for a combined $60 million.<\/p>\n