Phillip Lim joins flock of high-end clothiers migrating to Noho

TRD New York /
Aug.August 12, 2013 06:00 PM

Designer Phillip Lim, the latest to join a contingent of clothiers setting up shop in Noho, will open a 3,500-square-foot shop at 48 Great Jones Street, Crain’s reported.

The high-end designer, who also has outposts in Los Angeles and Tokyo as well as another New York City location on Mercer Street, inked a lease that also includes a 2,300-square-foot storage basement for his brand, 3.1 Phillip Lim.

Andrew Connolly of RKF represented the Great Jones Street landlord in the transaction, assisted by colleague Yael Amron.

“You’re seeing a lot of the big names open secondary locations or primary locations to this area, which captures the trendy, edgier side of boutiques,” Connolly told Crain’s. But he was quick to caution against limited vacancies, saying “It’s a very tight market.”

Asking rents on Great Jones Street and nearby Bond Street run in the $100s per square foot, while those in pricier Soho — a fashion mecca some retailers are starting to avoid — can hit between $250 and $300 per square foot.

Lim’s boutique will replace a furniture seller who left the space six months earlier. epresentatives from the clothier’s 3.1 Phillip Lim did not return Crain’s calls requesting comment. [Crain’s]Julie Strickland


Related Articles

arrow_forward_ios
Robert Futterman through the years (Credit: Getty Images)

“A cloud on the industry:” After Futterman’s firing, questions arise about Newmark’s growth strategy

Robert Futterman (Credit: RKF)

Robert Futterman fired from RKF

RKF struggles to get brokers to sign contracts and close Newmark sale

RKF struggles to get brokers to sign contracts and close Newmark sale

Company linked to RKF sued over botched commercial condo sale

Company linked to RKF sued over botched commercial condo sale

Darrell Rubens moves to RKF

Darrell Rubens moves to RKF

Ranking NYC’s top retail brokerages

Ranking NYC’s top retail brokerages

Futterman: Brick-and-mortar and e-commerce can co-exist

Futterman: Brick-and-mortar and e-commerce can co-exist

WATCH: RKF’s Robert Futterman says NYC’s retail market is “definitely not” f*cked

WATCH: RKF’s Robert Futterman says NYC’s retail market is “definitely not” f*cked

arrow_forward_ios
Loading...