T.J Maxx shows up in Soho

Retailer last year did a deal with landlords Aurora Capital and Adjmi family in Harlem

TRD New York /
Dec.December 04, 2017 08:30 AM

483 Broadway in Soho

Discount retailer T.J. Maxx signed an 18,000-square-foot lease in Soho at Aurora Capital Associates and the Adjmi family’s 483 Broadway.

The company signed a 15-year deal with an asking rent of $400 per square foot on 9,000 square feet on the ground floor, and $100 per square foot on the same amount of space below grade, the Commercial Observer reported.

Richard Skulnik of Ripco Real Estate represented TJX Companies, the parent of T.J. Maxx, in the deal. The landlords paid $150 million in 2010 to purchase a 49-year master lease covering 40,000 square feet from the basement through the second floor of the five-story building between Broome and Grand streets.

T.J. Maxx earlier last year signed a lease in Harlem with Aurora and the Adjmis at their 5 West 125th Street development, which is also home to Bed Bath & Beyond and WeWork.

In October, The Real Deal tallied retail spaces sitting vacant in more than $940 million worth of retail-focused acquisitions made in Soho over the last six years. [CO]Rich Bockmann

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