Aby Rosen’s landmarked Germania Bank Building is getting its first ever retail tenant, with fashion retailer Totkaelo signing a lease for 8,918 square feet.
But it may not be there for long. The Seattle-based shop’s lease at the Germania Bank Building begins in the fall and runs through March next year, the New York Post reported.
The asking rent for the retail space in the building is $2 million a year, according to RFR retail head Jordan Claffey. “I’m optimistic that this short-term agreement will turn into a long-term one,” Claffey told the newspaper.
Totokaelo, a luxury retailer that targets millennials, also has a store nearby at 54 Crosby Street.
Rosen paid photographer Jay Maisel $55 million for the graffiti-soaked, six-story, 37,000-square-foot building at the corner of Spring Street and the Bowery in 2014.
Maisel reportedly bought it for $102,000 around 50 years ago and had lived there with his family.
In April 2015, a conglomerate of creative agencies signed an 11-year lease for nearly 30,000 square feet at the building.
Along with Claffey, Cushman & Wakefield’s Brandon Singer and Michael Cody represented RFR in the retail deal, while Maxwelle NY’s Michael Yadgard represented Totokaelo. [NYP] — Miriam Hall