715-717 Fifth Ave., in New York City, was acquired by a joint venture of Kering and Ardian for just under €800 million. (CoStar)

They livened up the investment market at the beginning of this year, and they’ve decided to do it again as 2025 draws to a close.

After creating a joint venture for a portfolio of three Paris properties at 26 Place Vendôme, 35-37 Avenue Montaigne and 56 Avenue Montaigne, Kering, a multinational luxury goods company that owns brands such as Gucci and Yves Saint Laurent, and Ardian, a global private investment firm, have decided to repeat the same scheme, paying $900 million, or €766 million, for 715-717 Fifth Ave. in New York.