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Residential News

Residential News

Phillipe Chow Announces U.S., Global Expansion

Abraham Merchant and Richard Cohn, co-founders of Merchants Hospitality, a leading hospitality company with expertise in investment, development, ownership and management, announced the U.S. and global expansion of their restaurant brand Philippe Chow.

The brand is set to debut its first location outside of New York (and third outpost) in Washington, D.C. in late 2022 or early 2023. Shortly thereafter, the brand will make its foray into the Middle East — with its first global location slated to open in December 2022 in Riyadh, Kingdom of Saudi Arabia (KSA). Four additional locations are confirmed to open throughout KSA in 2023 and 2024, in AlUla, Jeddah, The Red Sea and Al Khobar.

In addition to the six confirmed future locations, Philippe Chow is in active discussions on expansion opportunities throughout the U.S., targeting markets including Miami, Florida; Atlanta, Georgia; Nashville, Tennessee; Austin and Dallas, Texas and Chicago, Illinois. A third New York City location in Rockefeller Center is under negotiation.

Printemps to Open First U.S. Store at New York's One Wall St.

A bit of Paris is coming to New York — and making a claim to the viability of department stores — as French luxury department store Printemps will open its first U.S. location at One Wall St. The 54,365-square-foot store will feature two levels and a façade with 346 linear feet facing Broadway. The store is expected to open in the Spring of 2024.

Printemps has tapped seasoned executive Laura Lendrum as the CEO of Printemps America, Inc. Lendrum previously served as president for Saint Laurent, Gucci and Ralph Lauren for the North American market.

The historic interior Red Room, one of the 50 interior landmarks in New York City, will be a highlight of the store. Internationally multi-awarded Parisian interior designer, Laura Gonzalez, will be the architect on the project to create a “Paris meets New York” design.

Printemps is not the first French department store to venture into a New York City location. Galeries Lafayette opened a location at Fifth Avenue and 57th Street in 1991, only to close three years later.

Stonehenge NYC Buys 780 Greenwich St.

Stonehenge NYC has closed on the purchase of 780 Greenwich St. in New York City. The six-story, 70,000-square-foot building, which contains 88 residential units, was built in 1950.

The pet-friendly building will join 26 other buildings in the Stonehenge NYC portfolio. The property offers duplex units, a rarity in the West Village. “We are excited to expand Stonehenge’s presence in the West Village. 780 Greenwich St. represents a true trophy asset as it is one of the few rental buildings in the Village with more than 75 large apartments. With this off-market acquisition, Stonehenge NYC now manages two of these rare assets, the other being 10 Downing Street, located just blocks away,” said Ofer Yardeni, chairman and CEO of Stonehenge NYC. The off-market deal was sourced by Stonehenge NYC which also led the underwriting and due diligence. The company will manage the property. Stonehenge NYC plans to upgrade the building's apartments and amenities to the high standard found throughout its portfolio.

Photo via PRNewswire

Photo courtesy of Stonehenge NYC

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