The New Stand, a reinvented newsstand chain that describes itself as what would happen if “your favorite blog and your favorite bodega had a baby,” is moving into Patricia Field’s old Bowery headquarters.
The company inked a 10-year deal with landlord Thor Equities [TRDataCustom] for 6,700 square feet of retail and office space at 306 Bowery, sources told The Real Deal. The building is one of several retail properties Thor owns nearby, including 176 Bowery, 195 Bowery, 734 Broadway and 50 Bond Street.
The New Stand Columbus Circle (Credit: Twitter)
The space had been vacant since before Thor purchased the building from Field, who designed the costumes for “Sex and the City” and “The Devil Wears Prada,” for $8.2 million in 2016.
Field, who operated out of the store since 2012, previously said she was selling in order to focus more on costume design for film and television.
The New Stand already has retail locations inside the Union Square subway station, at Brookfield Place in Lower Manhattan and at the Turnstyle market at Columbus Circle. The Bowery location, between Bleecker and East Houston streets, will be by far its largest to date.
The asking rent for the space was about $220 per square foot, sources said. Thor declined to comment, while a spokesperson for The New Stand was unavailable.
(To view more of Thor Equities’ retail leasing transactions, click here)