Avi & Co. is moving its New York headquarters and retail space from the Diamond District on 47th Street to 5 East 59th Street, formerly home to the city’s Playboy Club.
Owner Avi Hiaeve has been elevating the experience he delivers to his often famous client base in both New York and Miami.
His guest of honor at the opening of a showroom/lounge in the Miami Design District last year was top selling Latin artist J Balvin, who was presented with his very own Avi & Co. AH10 watch worth $275,000.
An Avi & Co. showroom in Aspen is also being planned, according to the company’s social media.
Mr Hiaeve paid $26.7 million for the 59th Street building at a foreclosure auction.
Mr Hiaeve says location, just a stone’s throw from Apple’s New York flagship store on the southeast corner of Central Park is a statement that he is transforming from a Diamond District trader to a purveyor of luxury watches and jewelry, including his own AH brand.
“Our clients who visit Avi & Co. are local and global travelers,” says Mr Hiaeve. “They are always looking for the most unique experiences in the world, and that’s what we intend to deliver.”
“This just happened to be the best thing to do – to buy it and own the building,” he told real estate title The Real Deal. “I think I got a very good deal on it.”
Mr Hiaeve says he will create retail and office space on the first two floors of the building and rent out the rest.
No date has been announced for when the move will be completed.