H&M could be eyeing deal for 14th Street flagship: sources

Asking rents for the ground floor space were $700 per sf

New York /
Jun.June 27, 2013 09:30 AM

Updated, 3:44 p.m., Jun 27: H&M, the giant European clothing retailer, may be close to inking its latest deal in New York City at the Feil Organization’s 853 Broadway, on the corner of 14th Street at Union Square, industry insiders say.

A spokesman for Feil, however, declined to confirm the speculation, telling The Real Deal: “No lease or leases have been signed. I will not comment on what tenant or tenants we are talking to.”

A spokesperson for H&M could not be reached immediately for comment.

The retailer will lease three floors of  of the 37,000-square-foot space, which covers six floors, a source familiar with the transaction told The Real Deal. There is 5,898 square feet on the ground floor, which has 70 feet of frontage on 14th Street; the mezzanine level has more than 6,000 square feet. Retailers already on the block include Forever 21 and Whole Foods.

Feil was asking roughly $700 per square foot for the ground floor space, the source said. H&M snagged the hotly-contested space because of its willingness to take multiple floors, the source added.

Earlier this morning, Jeffrey Roseman, an executive vice president and principal of Newmark Grubb Knight Frank retail, tweeted that “word on the street is that H&M has signed a lease on the corner of 14th and Broadway,” adding that it was a “great corner.”

Asking rents for the upper floors were unavailable.

Footwear retailer Shoe Mania occupied the space last, vacating it about a year ago, according to published reports.


Related Articles

arrow_forward_ios
Vorea Principal's Peter Papamichael with 10-04 Borden Ave (Vorea Group, iStock)
Skydiver lands first NYC location in Long Island City
Skydiver lands first NYC location in Long Island City
(photos by Joe Lovinger/The Real Deal)
Day 2 of ICSC: Retailers button up to network, prep for uncertain future
Day 2 of ICSC: Retailers button up to network, prep for uncertain future
ICSC at Las Vegas (photos by Joe Lovinger and Suzannah Cavanaugh/The Real Deal)
“Hot girl real estate” reigns at ICSC, Covid be damned
“Hot girl real estate” reigns at ICSC, Covid be damned
Jersey Mike's CEO Peter Cancro in front of 1500 Smithtown Avenue in Bohemia, Long Island (Jersey Mike's, Google Maps, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
Sandwich chain Jersey Mike’s expanding in NY
Sandwich chain Jersey Mike’s expanding in NY
A photo illustration of Market by Macy's located at 321 State Street in Southlake, Texas (Google Maps, iStock)
Macy’s embracing smaller stores in department store shuffle
Macy’s embracing smaller stores in department store shuffle
Photo illustration of SL Green's Marc Holliday (iStock, Getty)
The sin I live in: Times Square looks to Las Vegas for inspiration
The sin I live in: Times Square looks to Las Vegas for inspiration
Retail landlord Jack Terzi and 240 East 54th Street (Jack Terzi)
Terzi owes $58M and counting on Midtown SoulCycle building: suit
Terzi owes $58M and counting on Midtown SoulCycle building: suit
Thor Equities' Joe Sitt and the retail condo at the base of 700 8th Avenue (Thor Equities, Google Maps)
Joe Sitt loses West Side retail space to foreclosure
Joe Sitt loses West Side retail space to foreclosure
arrow_forward_ios

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

Loading...