|In The News|
|Sharper Image Signs SoHo Deal
13 September 2002
GlobeSt.com - Article by Michael Calderone
The grownup's toy store will open its fourth Manhattan location in a 2,500-sf space at 98 Greene St. The lease is one of three recent SoHo deals brokered by Robert K. Futterman & Associates involving long-term commitments by high-profile retailers.
Sharper Image's 10-year lease is valued at $3.5 million. Futterman executive vice president Robert Cohen, who represented the retailer, says lower rents in SoHO are bringing some fresh blood to the long-trendy neighborhood.
"Sharper Image liked the 98 Greene St. location because it is quite literally the epicenter of SoHo's exciting retail mix," Cohen says. "Furthermore, the prices in SoHo's trendy historic district have come down in the last year, giving upscale retailers an excellent prognosis for long-term success in that part of New York City."
Susan Meisel of Meisel Real Estate represented building owner Chaim Billet in the negotiations. The store is expected to open in November. RKF's Cohen, along with Victor Fandel of Fandel Retail Group, also co brokered Adidas' 12-year lease at 134-136 Wooster St. in a deal valued at $6.5 million. Alan Ballinger and Susan B. Anthony of Susan B. Anthony represented owners Julia McFarlane and Judith Kress.
Called Adidas Originals, the new retail concept store has already been rolled out in successfully in Germany and Japan. The SoHo store opened earlier this month. The 3,700-sf outlet features 1970s-style footwear and apparel. Another 12-year lease, this one with a value of $2.7 million, was recently signed by negotiating the 2,200-sf space at 133 Mercer St., while Bruce Sinder and Christopher Owles of Sinvin Realty represented the owners, 133 Mercer Street, LLC.
Agent Provocateur is owned by designer Vivienne Westwood's son, Joe Corre, and his wife, Serena Rees. This will be the retailer's second store in the US, joining its already-established Melrose Avenue shop in West Hollywood, CA. A grand opening is scheduled for October.