Lang & Lang Properties Sells Rodeo Drive Retail Building in Beverly Hills for $96 Million

Beverly Hills, Calif.— Lang & Lang Properties has completed the sale of a retail building, located at 457-459 N. Rodeo Drive in Beverly Hills.

A joint venture led by Michael Shabani of Crown Equity, Hakim Holdings, GWP Real Estate and Mazal Enterprises, acquired the property for $96 million. Brioni, an Italian menswear retailer, and Alexander McQueen, a British fashion house, occupy the 11,625-square-foot retail building. With 50 feet of frontage on Rodeo Drive, the property comprises 7,150 square feet of ground-floor space, approximately 600 square feet on the mezzanine level and 3,875 square feet on the basement level. Carine Mamann, Kazuko Morgan and Stephen Algermissen of Cushman & Wakefield represented the buyer in the transaction.