J
osh Flagg is making waves in the New York City real estate market with a major property acquisition on SoHo's Mercer Street. The street is renowned for luxury shopping, and Josh confirmed that his family company, Flagg Family Capital, purchased the building from Rialto Bank and the Jackson Group. However, he declined to reveal pricing details.

    Flagg Family Capital reportedly closed the deal on December 24 with developers Andrew Aryeh and David Elbaz, and will spend nine months renovating the property. The building features 5,500 square feet of retail space across its first and second floors and basement. Although it's unclear which retailers will occupy the space, it's likely to be fashion heavy-hitters given its location.

    Commercial realtor Jeremy Aidan will oversee leasing agreements for the property. Josh Flagg recently took over business operations from his father and is looking to take the company to the next level by focusing on prime locations like Palm Beach, Miami, and downtown New York.

    The Mercer Street purchase marks a new chapter for the Flagg family business, which began with the apparel brand Edith Flagg named after Josh's late grandmother. Josh has been expanding his investment portfolio in recent months, including building an investment property in Miami and purchasing a home in Beverly Hills.

    Josh splits his time between LA and NYC, where his boyfriend Kelton Hovland is based. While he spends one week in New York every month, Josh insists he has no plans to start a real estate team in the city. In a previous interview with Us Weekly, he stated that he's happy with his current setup in LA but may consider getting licensed if he spends more time in NYC.