The Real Deal New York

Ralph Lauren to close two NYC stores

November 05, 2012 04:00PM

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From left: 99 University Place (credit: PropertyShark) and Ralph Lauren

As Ralph Lauren does away with its Rugby brand, two of its locations — situated in popular downtown spots — could soon hit the market, Crain’s reported. One of the locations is a 2,500-square-foot store at 99 University Place, south of Union Square; the other is 1,000 square feet, and is located at 390 Bleecker Street in the West Village.

These stores, along with the brand’s other spaces around the world, will close by Feb. 2.

It was not immediately clear what would happen to the spaces’ leases. And there is still no decision whether or not to have other company labels occupy the stores. But if the stores do hit the market, they could go quickly.

“Both neighborhoods are easily rentable and desirable,” Steve Rapoport, senior managing director at Sinvin Real Estate, told Crain’s. But rents on Bleecker Street can go for $500 per square foot. Nearby on University Place, asking rents range from $150 to $175 per square foot. [Crain's]Zachary Kussin

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