Josh Flagg from Million Dollar Listing Los Angeles is Manhattan-bound!
As reported by The Real Deal, the Million Dollar Listing LA agent brokered a major property acquisition on SoHo’s Mercer Street, a world-renowned destination for luxury shopping.
Josh made the news official on Instagram. “Hello Manhattan! 🍎”
The property:
Josh confirmed Flagg Family Capital — owned by his parents, Michael and Cindy Flagg — purchased the building from Rialto Bank and the Jackson Group. He declined to reveal pricing details.
Flagg Family Capital reportedly closed the deal on December 24 and will spend the next nine months completing its renovations. The property will reportedly feature 5,500 square feet of retail space across its first and second floors and the basement.
Although it’s unclear what retailers will occupy the building, it’s safe to assume it will house fashion heavy-hitters.
New year, new business era:
The Mercer Street purchase signifies a new chapter for the Flagg family business, which began with the apparel brand Edith Flagg (named after Josh’s late grandmother). Josh recently took over the business operations for his father plans to take the company to the next level.
“We are changing things up from our previous business model,” Josh said in a statement. “I am focusing on prime locations: Palm Beach, Miami, downtown New York…instead of shopping centers and office buildings, which is what we have traditionally done.”
Will Josh launch an agency in NYC?
The West Coast native splits his time between LA and NYC. Josh said he and his beau, Kelton Hovland, typically spend one week in New York every month and the other three weeks in LA. However, he insisted he had no plans to start a real estate team in the Big Apple.
In July, he told Us Weekly, “I’ve always said no, because what I have in LA just works. But, if I’m going to be spending two weeks or at least 10 days a month in New York, I may as well get my license. I know so many people here, but it’s not like something I’m pursuing.”
