Gucci building sells for more than $40 million
The three-story Gucci building on Rodeo Drive in Beverly Hills has been sold for more than $40 million to Festival Cos. and Goldman Sachs Group Inc.
At more than $3,000 per square foot, the price was one of the highest ever paid for a multistory building on Rodeo Drive, said Steve Algermissen of Cushman & Wakefield, who represented seller Friedman Equities.
Roger Vincent
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