Chinese fashion designer to open first US store in Soho

Wang Tao's upscale brand will occupy a two-story building at 19 Howard Street

New York /
Jul.July 13, 2015 06:00 PM

Upscale Chinese fashion designer Wang Tao is opening her first U.S. location at 19 Howard Street in Soho, The Real Deal has learned.

A holding company, Ribo International Commerce LLC, bought the two-story, 4,500-square-foot building for $9.6 million from Silvershore Properties. Silvershore’s Jason Silverstein said Wang’s fashion company, “Taoray Wang,” will occupy the building.

Wang did not respond to a request for comment. It wasn’t immediately clear how exactly Wang and Ribo, which was formed in April under the name of a certain Weidong Wang, are affiliated. But the connections are apparent: Ribo is the name of Wang’s most recent employer, Ribo Fashion Group.

Wang launched her company in September 2014 and recently debuted her spring collection at the New York Fashion Week. The company’s website claims that it will open stores in major cities such as London, New York and Tokyo within the next three to five years.

“We knew that the target was to look for an end user,” Silverstein said. “The opportunity to occupy a building as a single tenant is obviously an exclusive thing for any kind of company.” Silvershore, which was founded in 2008 by former Marcus & Millichap brokers Jason Silverstein and David Shorenstein, made a hefty profit on the deal: it had scooped up the property for a mere $4.95 million in August 2014.


Related Articles

arrow_forward_ios
Jeff Sutton of Wharton Properties in front of 529 Broadway (Wharton Properties, LoopNet, iStock)
Sutton’s lender selling $195M loan at 529 Broadway
Sutton’s lender selling $195M loan at 529 Broadway
Luxury Swiss watchmaker clocks SoHo lease for move downtown
Luxury Swiss watchmaker clocks SoHo lease for move downtown
Luxury Swiss watchmaker clocks SoHo lease for move downtown
Givenchy is open at 92 Greene Street in Soho NYC and Gucci has a pop up 446 West 14th Street in Meatpacking District NYC. (Google Maps, Thor)
Tony retailers flocking back downtown
Tony retailers flocking back downtown
285 Lafayette Street (Kushner, HypeClub, iStock)
Sneaker hub HypeClub to open brick-and-mortar location in SoHo
Sneaker hub HypeClub to open brick-and-mortar location in SoHo
(iStock)
Manhattan asking retail rents continue downward spiral
Manhattan asking retail rents continue downward spiral
505 Broome Street (Google Maps)
Paul Stuart sweeps up new lease on Broome Street
Paul Stuart sweeps up new lease on Broome Street
503 Broadway (Credit: Google Maps; Getty Images)
PacSun takes retail space in Soho for NYC debut
PacSun takes retail space in Soho for NYC debut
Opening Ceremony founders Humberto Leon and Carol Lim and the brand's Soho location at 35 Howard Street (Credit: Getty Images, Google Maps)  
Opening Ceremony is the latest Soho retailer to close
Opening Ceremony is the latest Soho retailer to close
arrow_forward_ios

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

Loading...