Spain¡¯s Amancio Ortega buys New York¡¯s historic Haughwout Building
Founder of clothing giant Inditex pays €133 million for Manhattan landmark
Amancio Ortega, the retired founder of the Inditex fashion retail chain, and the world¡¯s second-richest man, has announced the purchase of the historic Haughwout Building, one of Manhattan¡¯s oldest surviving commercial premises, built in 1857.
Local media report that Ortega¡¯s Ponte Gadea real estate company has paid €133 million for the five-story building, located on the corner of Broadway and Broome Street, in the city¡¯s SoHo district.
The building was the first in the United States to install a hydraulic elevator
In 2010, the Corcoran real estate company renewed its lease for a further five years on the second and third floors of the building, which was the first in the United States to install a hydraulic elevator. Its innovative cast-iron structure means it is also regarded by some as one of the world¡¯s first skyscrapers.
The iconic building was designed by John Gaynor and first occupied by the Haughwout Emporium, which sold imported cut-glass, china ware, and chandeliers. It later fell into disrepair, but was completely overhauled in the late 1990s, and is listed on the US Register of Historic Places.
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