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ASB Closes on Soho Retail Property Buy

NEW YORK CITY—In a joint venture with Thor Equities, which holds a minority position in the asset, ASB has picked up a major clothing designer’s flagship location here.

155 Mercer The three-story, high-street retail building at 155 Mercer St. will be made into a trophy shopping location.

NEW YORK CITY—ASB Real Estate Investment has closed on its acquisition of majority ownership in 155 Mercer St.—the location of Dolce & Gabbana’s flagship store here, in SoHo—for $93 million.

The investment forms a joint venture with Thor Equities, which retained a small stake in the property that it previously owned in full. The transaction was completed by ASB on behalf of its Allegiance Fund, a $6.2 billion core investment vehicle.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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