London Club Operator Buys Meatpacking Industrial Building
Pending approval from the city’s Landmarks Preservation Commission, the new owners plan to convert the former safe and lock factory into the first international location of the London private club, Annabel’s.
Caprice Holdings, a unit of Abu Dhabi-based DIAFA, purchased the historic five-story Herring Building at 675 Hudson Street in the Meatpacking District for $100 million.
The seller, Aurora Capital Associates, previously acquired the property in 2023 for $50 million, effectively doubling its investment.
A London investor paid $100 million for a former safe and lock factory in New York’s Meatpacking District with plans on turning it into a private club.
Caprice Holdings, a unit of Abu Dhabi-based DIAFA, bought the five-story Herring Building at 675 Hudson Street, the Commercial Observer reported. The seller was Aurora Capital Associates, which paid $50 million for the property in 2023.
The deal for the 29,300-square-foot building, which works out to $3,413 per square foot, was financed with a $165 million loan from HSBC.
Aurora Capital, led by Robert Cayre, bought the historic brick building for $1,706 per square foot.
Pending approval from the city’s Landmarks Preservation Commission, Caprice aims to convert it into the New York outpost of the London private club, Annabel’s. The club was once under the hospitality empire owned by British businessman Richard Caring.
In April, DIAFA bought a majority stake in Caring’s holdings for $1.8 billion, which included Caprice Holdings, according to Yahoo Finance. Caring holds a minority interest and serves as executive chairman.
A month later, an entity tied to the Annabel’s club filed plans with the preservation commission to convert the former industrial building built in 1849 for the Herring Safe and Lock Company.
Plans for the landmark building, also known as the “Little Flatiron”, include restoration of its brick facade and metal cornice, plus the addition of a curved glass rooftop enclosure, according to New York Yimby.
The club’s first international location outside London would also include dining rooms, bars, event rooms and “hospitality-focused programming.”
Preservation commission officials previously expressed reservations about the rooftop addition, saying the proposed curved glass structure designed by BKSK Architects didn’t match the character of the building.
The trendy Meatpacking District is ushering in more major real estate deals from players both old and new.
In January, Global alternative asset manager TPG Angelo Gordon and Cayre’s Aurora teamed up to buy 410 West 13th Street for $71 million. The deal for the five-story, 80,000-square-foot building broke down to $888 per square foot.
– Dana Bartholomew
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