Jan 31, 2018

Smith, Gambrell & Russell Represents Artemis Partners in Sale of NYC’s Historic 204 Fifth Avenue to Spanish Retailer Porcelanosa for $42.4 Million

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ATLANTA (January 31, 2018) – Smith, Gambrell & Russell, LLP (SGR) is pleased to announce that the firm served as legal counsel to Artemis Partners LLC (Artemis), a private equity firm, in its sale of 204 Fifth Avenue in New York City to Porcelanosa, the Spanish interior design and ceramics retailer, for $42,400,000.

Purchased by Artemis in 2017, the four-story Beaux-Arts style building at 204 Fifth Avenue is situated across from Madison Square Park in NYC’s fashion manufacturing mecca, the Garment District. With an adjacent location to Porcelanosa’s current flagship store at 202 Fifth Avenue, which was purchased in 2012, the 14,538-square-foot-building will serve as an expansion to the Spanish retailer’s retail flagship.

Constructed in 1913, 204 Fifth Avenue was designed by renowned architect C.P.H. Gilbert and originally housed the Lincoln National Trust Company (later acquired by Chase Manhattan Bank). In the late 1980’s it was home of the era-defining nightclub, MK. The building was renovated in 2004 and more recently served as the headquarters for graphics firm Pentagram Design.

The SGR New York legal team included Stephen O’Connell, Managing Partner of the New York office and Head of the Real Estate Practice, and Jon Linder, Associate in the Real Estate Practice.

About Artemis Partners LLC
Artemis Partners is a leading middle market private equity firm currently investing primarily in healthcare and real estate. 

About Smith, Gambrell & Russell, LLP
SGR is a full service, international law firm that advises regional, national and global businesses on a wide range of legal matters. The firm’s more than 220 attorneys provide legal counsel in more than 45 specialized practice areas, including corporate transactions, litigation, intellectual property, aviation, banking, real estate, construction and employment law. Founded in 1893, SGR has offices in Atlanta, Austin, Jacksonville, London, Los Angeles, Munich, New York, Southampton, and Washington, D.C.