Prada Plots Major NYC Expansion With $835 Million Building Deal.

Prada is expanding its presence in New York City with the acquisition of two buildings on Fifth Avenue. The Prada family purchased 720 Fifth Ave. for approximately $410 million, and earlier in the week, the fashion brand announced the $425 million purchase of the adjacent building, 724 Fifth Ave., which currently houses its flagship store. The combined value of the two acquisitions is $835 million, making it one of the largest real estate purchases in New York this year. Prada plans to continue using the space for its store, offices, and storage. [Extracted from the article]