Vacuum tycoon James Dyson has bought Versace’s store on New York’s Madison Avenue from the Reuben brothers for $135m (£106m).
Property records in the US show Wharton Properties founder Jeff Sutton and his partners David and Simon Reuben sold the retail property at 747 Madison and the corner of East 65th Street to Dyson’s family office, Weybourne Holdings.
Wharton Properties began assembling the property in 2011, buying the ground-floor retail space for $66m. It later added the second-floor duplex at a cost of $2.6m. He bought out his partners in 2013 – a deal that valued the property at $160m.
Earlier this year, the British-based Reuben brothers acquired a stake in the 110,000 sq ft property.
Earlier this year Weybourne paid $60m for the former home of Dolce & Gabbana in SoHo at 155 Mercer Street. That was a discount of more than $30m to the price the property last traded for six years earlier.
