The Safras are looking to sell a high-street retail portfolio spanning New York and Chicago, leased to brands like Omega, Prada and Aime Leone Dore.
J. Safra Asset Management, the investment arm of the Brazilian-based Safra Group, is eyeing a price tag of $125 million for the group of six properties, which span more than 53,000 square feet.
The properties, located in some of New York and Chicago’s best retail neighborhoods like Soho and Gold Coast, are “defined by global luxury and lifestyle brands, dense foot traffic and entrenched ownership,” according to marketing materials from Newmark.
The addresses are 8-14 Prince Street, 90 Prince Street, 24 Prince Street, 224 Mulberry Street and 450 Broadway in Manhattan, as well as 30 East Oak Street in Chicago.
Safra spent about $113 million assembling the New York properties between 2012 and 2015 — a time when there was a huge rush of investment into retail to capitalize on fast-rising rents. The retail bubble burst soon after, and the market went through a long, grinding recovery.
The picture looks much better now: Soho’s availability rate was 9.6 percent in the first quarter, according to Cushman & Wakefield. That makes it one of the tightest submarkets in Manhattan.
A representative for J. Safra Asset Management could not be immediately reached for comment. A Newmark team led by Adam Spies and Adam Doneger is running the sale process.
Headquartered in New York, J. Safra Asset Management is the investment-advisory division of the J. Safra Group — the international banking empire founded by Jacob Safra in the early 1900s. His son Joseph Safra moved the family from Lebanon following the 1948 Arab-Israeli War and landed in São Paulo, where he started Banco Safra in 1955. Joseph died in 2020 and today the family is led by his widow, Vick Safra, whose wealth Forbes pegged at north of $27 billion.
J. Safra Asset Management managed more than $6 billion of assets at the end of 2025.
One of the Safra heirs, Edmond M. Safra, has recently been investing in New York office-to-residential conversions through AVRS Partners — a company he started with Adnane Mousannif, former head of real estate for the Americas at the Qatar Investment Authority.
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