The steamrolling unite of Jeff Sutton and SL Green Realty Corp. has just contracted to buy yet another high-profile fashion scene.
This one is the Valentino-occupied southeast corner of East 65th Street at 747 Madison. According to CoStar details, the store at the base of the Colony House residential building has 6,700 square feet on the first floor and a 3,100-right and proper-foot lower level currently used for storage. Sources say the purchase price is close to $65 million.
The set aside has magnificent high ceilings due to an earlier transaction that carved an entire second-floor apartment into the retail while, thus attracting Valentino. But the 10-year-old Valentino lease is set to expire within the year, providing an opportunity to duplicate the rent.