Dolce Vita, the fashion-footwear brand owned by shoe shah Steve Madden, is moving into a 10,000-square-foot shop and office headquarters on Mercer Street.
Parent company Madden inked a deal for the space at 53 Mercer Street, a three-story Soho building with about 3,000 square feet on the ground floor and 7,000 square feet above for the corporate offices.
“They were looking for space that could essentially function for their office operations, while at the same time give them a retail presence in Soho,” said new Helsmsley Spear senior vice president Mark Neuman, who negotiated the deal on behalf of the tenant.
“It was kind of complex because Soho doesn’t have many free-standing retail buildings that also have vacant office space,” he added.
Asking rent for the retail space was in the high $200s per square foot. The length of the lease is five years with an option for a five-year extension. Dan Harroch at Thor Retail Advisors represented the landlord, Oren Evenhar.
Dolce Vita is currently working on the design buildout for the store, which is scheduled to open within six months.
Steve Madden bought the Dolce Vita brand in 2014 for $60.3 million. Elsewhere on Mercer Street, Thor Equities is looking to sell 155 Mercer, a three-story building net leased to Dolce and Gabbana, as part of a large commercial portfolio the Joe Sitt-led firm has put on the market.