Rothmans ditching Union Square digs

New York /
May.May 17, 2011 08:58 AM

Rothmans, the famed men’s department store at Union Square, is leaving its home of 25 years for a larger, cheaper space one block north, according to the Post. The retailer, which currently resides in 7,500 square feet at ABS Partners’ 200 Park Avenue South, will relocate to 11,000 square feet at 222 Park Avenue South, whose retail co-op is also owned by ABS, later this year. Rothmans had five years left on its lease, but the move will allow ABS to hike up the rent sooner at 200 Park, while Rothmans will be paying less than it would be if it had waited and renewed. And although the store is giving up the visibility that comes with being on a prime corner on Union Square, Ken Giddon, part of the Rothmans family ownership group, said Rothmans doesn’t really need it. “We realized we’re a destination store,” Giddon said. Plus, Union Square’s demographic has “gotten very young. It’s very NYU-heavy right now. That’s a wonderful thing, but it isn’t truly our audience.” [Post]


Related Articles

arrow_forward_ios
A photo illustration of Citadel's Ken Griffin and a rendering of the planned tower at 350 Park Avenue (Getty, Citadel LLC, DBOX for Foster + Partner)
Ken Griffin’s Citadel plans 51-story office tower on Park Avenue
Ken Griffin’s Citadel plans 51-story office tower on Park Avenue
Wolf Haldenstein Adler Freeman & Herz' Mark Rifkin and ABS Partners Real Estate’s James Caseley (right) with 270 Madison Avenue (Wolf Haldenstein Adler Freeman & Herz, ABS Partners, Getty)
Tenant wins $2M rent credit, fees for bad AC during Covid
Tenant wins $2M rent credit, fees for bad AC during Covid
SL Green's Marc Holliday and 245 Park Avenue (Getty Images, SL Green, Google Maps)
SL Green takes over 245 Park Avenue
SL Green takes over 245 Park Avenue
ABS Partners founder Earle Altman and 200 Park Avenue South (Getty Images, ABS Partners)
Revlon released from 200 Park Avenue South leases
Revlon released from 200 Park Avenue South leases
SL Green’s Harrison Sitomer with 245 Park Avenue
Judge confirms HNA must pay $185M to SL Green
Judge confirms HNA must pay $185M to SL Green
200 Park Avenue South and Revlon's Ron Ron Perelman (Loopnet, Getty Images, iStock)
Revlon trying to escape pricey leases at 200 Park Avenue South
Revlon trying to escape pricey leases at 200 Park Avenue South
SL Green’s Harrison Sitomer with 245 Park Avenue
SL Green gets restraining order against HNA at 245 Park Ave
SL Green gets restraining order against HNA at 245 Park Ave
ABS Partners Real Estate founder Earle Altman and 270 Madison Avenue (ABS Partners, LoopNet, iStock)
NY Public Library leases 41k sf for Midtown offices
NY Public Library leases 41k sf for Midtown offices
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...