Another massive shop shutters in Soho

Pirch is moving out of a 32K sf retail space at 200 Lafayette

New York /
Oct.October 26, 2017 12:10 PM

In vacancy plagued Soho, another one bites the dust. Pirch, a try-before-you-buy appliance store, has shuttered its 32,000-square-foot retail space.

Pirch opened in the three-story space at General Growth Properties’ 200 Lafayette Street in May 2016. It was the California chain’s first store in New York, according to the Commercial Observer.

“Pirch has decided to restructure and operate out of their Southern California base and therefore a decision has been made to exit all non-[California] markets with immediate effect,” the sign at the shop between Broome and Spring streets reads.

Asking rent at the space was reportedly $400 per square foot on the ground floor.

“I think the Pirch concept was a great idea and a fun experience but unfortunately not too many New Yorkers were in the market for a $48,000 stove,” Eastern Consolidated broker James Famularo told the Commercial Observer.

General Growth Properties acquired the 130,000-square-foot, seven-story building in October 2013 for $149 million. [CO] – Christopher Cameron

(To view more of General Growth Properties’ New York City properties, click here)


Related Articles

arrow_forward_ios
270 W Montauk Hwy, Hampton Bays, NY (Loopnet)
Legendary Hampton Bays bar up for sale
Legendary Hampton Bays bar up for sale
Prologis Chairman and CEO Hamid Moghadam (Getty, Prologis)
Industrial space “effectively sold out” amid leasing frenzy, Prologis says
Industrial space “effectively sold out” amid leasing frenzy, Prologis says
Starwood raises $10B for distressed real estate plays
Starwood raises $10B for distressed real estate plays
Starwood raises $10B for distressed real estate plays
Aulder Capital CEO Jonah Bamberger and 162-164 East 82nd Street (Rosewood Realty Group, Slate Property Group)
Two Upper East Side apartment buildings head to foreclosure sale
Two Upper East Side apartment buildings head to foreclosure sale
Stripes founder Ken Fox and a rendering of 40 10th Avenue (Stripes, Neoscape)
Private equity firm carves out 14K sf at Aurora’s Solar Carve building
Private equity firm carves out 14K sf at Aurora’s Solar Carve building
Resurrection! Work resumes on stalled Clinton Hill residential project
Resurrection! Work resumes on stalled Clinton Hill residential project
Resurrection! Work resumes on stalled Clinton Hill residential project
CRE held up through the pandemic far better than most expected (iStock)
How commercial real estate survived the pandemic
How commercial real estate survived the pandemic
Harbor Group grabs $558M in financing for Black Rock purchase
Harbor Group grabs $558M in financing for Black Rock purchase
Harbor Group grabs $558M in financing for Black Rock purchase
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...