Avi & Co., a luxury jewelry and watch company, will make its headquarters in the former Playboy Club building in Midtown Manhattan.
Avi Hiaeve, owner of the jewelry company, bought the building via 5 East 59th Street Holdings LLC at a foreclosure auction, The Real Deal reported. The price was $26.7 million.
The nine-story building, which was owned by BentallGreenOak and Capstone Equities, is located at 5 E. 59th St. Hiaeve intends to operate his store on the bottom two floors, moving the retail location from the Diamond District. He will use some of the remaining space for offices and rent out some space.
The Real Deal reported that Avi & Co. has stores in Aspen, CO, and Miami, in addition to New York, and employs 40 people.
Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success
After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone.
Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently.
The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.
