Harbor Group International acquires 445 Fifth Avenue retail condo; Partnered with Image Capital in the deal

Manhattan, NY According to Harbor Group International, LLC (HGI),  an affiliate of the company has acquired 445 Fifth Ave., a 19,000 s/f class A urban retail condominium. The sales price was not disclosed. The property is 100% leased to three tenants and is anchored by Charming Charlie’s flagship store – the tenant’s first store in New York City. Charming Charlie has over 350 stores around the world and has expanded globally to Canada, the Middle East and the Philippines. “The property is in the world renowned Fifth Ave. retail shopping district, across the street from Bryant Park and the New York Public Library,” said Richard Litton, Jr., president of Harbor Group International. “The property was recently renovated and leased to all three tenants on long-term leases, making it a stable investment that is also capable of creating meaningful value for our investors as rents increase over time in the submarket.” The property continues HGI’s successful Urban Retail investment strategy. Recently, HGI has acquired urban retail properties in New York City, Los Angeles, Washington, D.C., and London, U.K. HGI partnered with Image Capital on the transaction.