The Real Deal New York

Top Indian fashion house Anita Dongre inks lease at 473 Broadway

New Mumbai-based designer will put two separate brands into 6,800 square feet
By Will Parker | November 07, 2017 03:30PM

Anita Dongre and 473 Broadway

Designer Anita Dongre will combine two brands into one store space after signing a new lease at 473 West Broadway, The Real Deal has learned.

The 6,800-square-foot, three-floor unit at the Soho building will host two brands: Anita Dongre, a luxury bridal and formal wear line, and Grassroot, a sustainable prêt-à-porter line.

Grassroot previously opened under a temporary lease this summer at The Nearby 484 Broome Street. Dongre’s broker, Pavan Uttam of UP Real Estate Advisors, said the company had an option to renew, but decided to move Grassroot to the West Broadway space where it would also introduce Dongre’s eponymous line for the the New York market. Annual rent will total $480,000, or about $71 per foot, Uttam said.

Sinvin Real Estate represented landlord Centurion Realty in the deal.

The space at 473 Broadway had served as an art gallery and pop-up for other retailers.

As of last month, there was $940 million worth of empty retail space in Soho that was purchased within the last six years, TRD reported. The average rent there is $812, according to a May report from the Real Estate Board of New York.

Fortune India named Dongre the 21st most powerful woman in India. Kate Middleton, Priyanka Chopra and Sonam Kapoor have all worn her clothing or accessories, according to the New York Times. When Middleton was photographed in one of Dongre’s signature dresses in 2016, a surge in traffic reportedly crashed the retailer’s website.