Bernard Arnault’s luxury goods conglomerate LVMH has bought 150 Avenue de Champs-Élysées from Canadian private equity firm Brookfield.
LVMH is understood to have paid around €950m (£814m) for the building – a record price on the street.
Brookfield paid around €750m for the property just 18 months ago.
The deal was reported by French property website CFNews Immo.
All parties declined to comment.
