The Real Deal New York

Sephora in talks for first Williamsburg store

French cosmetics retailer negotiating for space next to Apple

241 Bedford Avenue in Williamsburg (left)

Sephora may soon show Williamsburg its outer beauty. The French cosmetics chain is in late-stage talks to open its first store in the neighborhood, sources told The Real Deal.

The chain is negotiating to lease the ground-floor space next to the new Apple Store as part of the retail complex owned by RedSky Capital TRData LogoTINY and Waterbridge Capital, sources said. A lease is not yet out with the tenant at, sources said.

The full retail space features more than 21,000 square feet: a divisible 8,695 square feet on the ground floor, 6,114 square feet on the second floor, and 6,575 square feet on the lower level, according to marketing materials. The space would be available later this year.

It is unclear how much space Sephora would take. But sources said Sephora, whose space requirement is often north of 5,500 square feet, would only occupy a portion of it.

Asking rent is said to be around $300 to $350 per square foot.

A Lee & Associates team led by Peter Braus and Peter Levitan is marketing the space on behalf of the owners. Crown Retail Services’ Virginia Pittarelli is representing Sephora in its search. The brokers on both sides declined to comment, as did the landlord. A Sephora spokesperson could not be immediately reached.

Sephora, which has 13 locations in Manhattan, opened its first Brooklyn outpost in 2013 – a 7,000-square-foot space at 210 Joralemon Street in Downtown Brooklyn. The company has been on the hunt for a second location in Williamsburg since then, sources said.

If Sephora were to take the space, it would be located across the street from Whole Foods and Equinox on a prime, fast-changing strip in the north Williamsburg retail corridor along Bedford Avenue. The retailer would sit next door to the Apple Store, which opened at 247 Bedford Avenue in July.

According to the Real Estate Board of New York’s Brooklyn retail report late last year, Bedford Avenue between Grand and North 12th streets saw the highest rents in the borough at $373 per square foot.

Last month, Lululemon Athletica and Korean retailer Aland inked lease at 129 and 92 North 6th Street in the neighborhood.