Three retailers to lease space at 436 Broadway through Sinvin.
The former store, 1,500 square feet of space, was subdivided into three separate units. Notes Christopher Owles, the Sinvin Realty broker who represented two of the new tenants, "There is a very small supply to meet the incredible demand for small stores in SoHo. these three newly carved out spaces represent the first small store availabilities on this heavily trafficked and most prestigious block."
The three spaces, measuring 425 square feet, 480 square feet and 575 square feet respectively, went to Vilebrequin, Cecile Jeanne, and Perlier. Sinvin Realty Corp. represented the tenants in the Vilebrequin and Cecile Jeanne leases, and Yair Staav of Lansco represented the owner in all three deals.
At approximately $300 per square-foot, the combined value of the three leases is in excess of $5 million over the 10-year period. Notes Bruce Sinder, president of Sinvin Realty Corp., "This continues the trend for Europeans to establish a beachhead in New York generally, and in SoHo specifically. While Madison Avenue has an "old guard" feel, SoHo remains the epicenter of cutting-edge fashion."
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|Publication:||Real Estate Weekly|
|Date:||Nov 17, 1999|
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