Fashion designer buys Columbus Ave. building.

Robert K. Futterman & Associates, LLC has completed the purchase of 240 Columbus Ave. for Custo Barcelona.

The fashion designer and retailer acquired the nine-unit residential building, which includes 1,500 square feet of ground-floor retail space, for an undisclosed amount.

Joshua Strauss, managing director, of RKF represented the buyer in the transaction. Paul Smadbeck of Massey Knakal represented seller Del Corral Holdings. The four-story building, located at the northwest corner of the intersection of Columbus Avenue and 71st Street, includes 1,500 square feet of ground floor retail space. Custo Barcelona intends to occupy the retail portion of the building when the current tenant's lease expires in 2006. RKF has been representing the retailer in its national expansion, completing seven deals this year alone.

"This will be Custo Barcelona's second store in New York City," said Strauss. "Custo has a European sensibility, in that it prefers to buy its retail locations instead of leasing them. The fashion retailer chose Columbus Avenue for its prime retail location and strong co-tenancy."

Neighboring tenants include Lucky Jeans, Banana Republic, Godiva Chocolate, Swatch and Starbucks. Custo Barcelona is a leading designer and retiler of women's and men's clothing and accessories. Founded by brothers Custo and David Dalmau in 1996, the Custo Barcelona brand made its debut in the American fashion market in 1997.

The clothing caught the attention of Hollywood stylists, directors and costume designers. Public demand for the clothing soon prompted the opening of Custo Barcelona's flagship store in Barcelona, Spain, in the summer of 2001. The label is known for its innovative design, daring mixture of colors and intense use of graphics. There are currently 15 Custo Barcelona specialty stores throughout the world.