Aby Rosen signed a trendy retail tenant at 190 Bowery, but it may not stay long

Fashion emporium Totokaelo is taking 9K sf at the Germania Bank BuildingFashion emporium Totokaelo is taking 9K sf at the Germania Bank Building

TRD New York /
July 25, 2017 09:55 AM

Aby Rosen and 190 Bowery (Credit: RFR)

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

Related Article

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Multifamily market still reigns in Queens, Blackstone balks after rent reforms and more of the biggest CRE trends right now

Real estate titans … and their toys

From left: Jack Terzi, 31 East 28th Street, and Michael Shah (Credit: Jack Terzi, Delshah Capital and Google Maps)

Take Two: After dismissal, Delshah strikes back with second foreclosure suit against Terzi’s NoMad retail condo