Chelsfield is pleased to announce the acquisition of 580 Broadway / 112 Crosby Street, a 12 story (140,000 sq ft) office and retail building in New York City. The asset will undergo a complete renovation to transition the commercial building into a prime office and retail property in the heart of the historic neighbourhood of SoHo.
As the centre of gravity in New York continues to move South and West, SoHo is leading the city’s re-emergence as the neighbourhood of choice, offering a live-work-play environment and an ecosystem attracting creative, venture, finance, fashion, and media tenants alike as well as global luxury and boutique retail as businesses look to re-engage their customers in a more thoughtful way.
Burberry has opened a new flagship store at No.1 Sloane Street. The iconic British luxury brand is the first tenant to open in the 340,000 sq ft redevelopment at the northern end of The Estate for which Chelsfield is the asset and development manager on behalf of owners The Olayan Group.
The development, designed by leading architects Fletcher Priest, transforms an iconic corner of Knightsbridge to deliver a brand-new mixed-use scheme behind retained period façades preserving the unique character of the area. The development once fully complete delivers seven large retail units, a 67,000 sq ft office building, 33 apartments and a rooftop restaurant. To date three of the seven flagship stores have been pre-let.
At Chelsfield, we believe that being a responsible and successful developer often means our work stretches beyond the buildings themselves. Improvements to the public realm bring real benefits to those who live, work and visit the area, and this attention to detail also adds value to the assets.
At The Knightsbridge Estate in London, where we are asset and development manager for owner The Olayan Group, strategic improvements to the public realm and infrastructure will have a major impact on the residents of Knightsbridge as well as its visitors.
At Chelsfield, we want to embrace the excitement and pace of normal city living but we also want to build in spaces that are mindful and speak to the quieter sides of people’s needs.
We believe this is important even in the heart of a busy metropolis, where thousands of residents, workers, shoppers and tourists converge each year.