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The Soho Flea Market Is Getting a Mystery Retail Replacement

Image via <a href="http://www.flickr.com/photos/michellerick/6308042531/">Michelle Rick</a>
Image via Michelle Rick

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For the past twenty or so years, the empty lot located at Spring and Wooster Streets has been home to what the Post aptly refers to as a "ramshackle flea market." But things are about to change. Billionaire Ralph Bartel has just bought the place for a cool $30 million, with plans to turn the plot of land into an actual retail building.

The article explains that Bartel is a major investor in brands like Lanvin and Devi Kroell. Neither of those labels have a store in Soho, so as far as we're concerned, they're both plausible.

For what it's worth, Bartel did recently raise his stake in Lanvin to 25%. When WWD announced that news, they also added this:

In 2009, Lanvin said it would use the proceeds from its capital increase to expand its retail network and deepen its commercial footprint, leveraging the design prowess and buzz of its creative director, Alber Elbaz, who is believed to hold an equity stake in Lanvin via a Wang-controlled vehicle.
The takeaway: It's possible.
· A downtown Morton's (second item) [NYP]
· Ralph Bartel Raises Stake in Lanvin [Racked NY]


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