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Thursday, Dec 8, 2022

LVMH Acquires Another Beverly Hills Property

LVMH Moet Hennessy Louis Vuitton Inc. has added to its growing roster of storefronts in Beverly Hills.

In June, the company acquired a property at 449-453 N. Beverly Drive in Beverly Hills for $30 million, records show.

LVMH purchased the property from B & A Management Corp.

The roughly 6,000-square-foot property was empty at the time of the sale, according to CoStar Group Inc.

Dembo Realty’s Bruce Dembo and Chuck Dembo represented the seller in the transaction. Newmark Knight Frank’s Jay Luchs represented the buyer.

LVMH has bought a handful of other properties in the area in recent years.

In 2018, the group purchased the former Brooks Brothers building at 468 N. Rodeo Drive for $245 million. Brooks Brothers has vacated the building.

That same year, LVMH purchased the storefront at 456 N. Rodeo Drive for $110 million from the Sterling Organization.

The group also made a big purchase in 2016, acquiring a roughly 6,000-square-foot building from a trust and Dominium Management Corp. for $122 million.

LVMH brands include Marc Jacobs, Givenchy, Fendi, Christian Dior, Celine, Sephora, Bvlgari and Dom Perignon.

The company plans to build a hotel in Beverly Hills to complement its store offerings. LVMH has applied with the city to build a 115-room property on the corner of Rodeo Drive and South Santa Monica Boulevard.

The hotel, which isn’t expected to open until 2025, would be under the Cheval Blanc banner.

Cheval Blanc operates hotels in five other locations, including Paris and St. Tropez.

The Beverly Hills iteration will be designed by Peter Marino. The New York architect also designed the Rodeo Drive Louis Vuitton and Dior stores.

The hotel is not expected to have conference facilities or cater to business travelers.

It is, however, expected to have two pools and a private club, catering to luxury clientele.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans covers real estate for the Los Angeles Business Journal. A USC grad, Madans has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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