Bandier signs lease for flagship location at Paramount’s 670 Broadway

Upscale women's workout chain opening office and store at largely vacant Noho building

New York /
Mar.March 20, 2018 06:50 PM

From left: Albert Behler, 670 Broadway and a rendering of the new Bandier store

Bandier has signed a lease for its new U.S. flagship location — a retail and office spread totaling 27,500 square feet at Paramount Group’s 670 Broadway in Noho, sources told The Real Deal.

The retail chain, which specializes in upscale workout attire for women, will occupy several floors of the five-story, 75,000-square-foot property, also known as “0 Bond Street.” The space consists of 4,500 square feet on the ground floor, 13,000 square feet on the fourth floor, and 10,000 square feet on the lower level. Bandier’s fitness studio offshoot, Studio B, will occupy part of the fourth floor; the remaining 8,000 square feet on that floor will be office space.

Asking rents were $300 per square foot for the ground-floor retail and $110 per square foot for the office, sources said.

Rendering of the new Bandier store

With the deal, Paramount takes a step toward leasing the largely vacant property it bought for $112 million in 2015. The real estate investment trust spent several months last year trying to sell the building in the pricing range of $160 million and ultimately took it off the market.

The building is home to Equinox, which signed a lease in 2016, and has additional unclaimed ground-floor retail space. The lease is also one of the largest retail deals Noho has seen amid the widespread retail slowdown.

Warwick Capital Management’s Brandon Charnas and Adam Henick represented the tenant in the deal. Paramount, Warwick and Bandier declined to comment.

Bandier has smaller locations in the city such as 164 Fifth Avenue and 150 East 72nd Street, as well as shops in Southampton, Manhasset and Dallas.


Related Articles

arrow_forward_ios
Homebuilding is largely responsible for the increase in construction spending. (Getty / Photo Illustration for The Real Deal)
Construction spending hits new record in January
Construction spending hits new record in January
The person behind the prank website is still anonymous. (Getty)
Phony website falsely claims REBNY cancels rent
Phony website falsely claims REBNY cancels rent
(iStock/Illustration by Kevin Rebong for The Real Deal)
These are real estate executives’ worst worries for 2021
These are real estate executives’ worst worries for 2021
15 West 47th Street, 48 West 48th Street and 151 West 46th Street (Google Maps, Getty)
Here’s what tenants are paying at ELO’s Diamond District properties
Here’s what tenants are paying at ELO’s Diamond District properties
Steve Witkoff and Ian Schrager in front of the iconic PUBLIC hotel escalators. (PUBLIC, Getty)
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
Best Buy has closed about 20 of its big-box stores in each of the past two years (iStock)
Best Buy lays off 5,000 staffers, increases store closures
Best Buy lays off 5,000 staffers, increases store closures
Ryan Serhant and Gary Barnett on Development Slowdown in Pandemic
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Cushman & Wakefield CEO Brett White
Cushman reports 10% drop in revenue in 2020
Cushman reports 10% drop in revenue in 2020
arrow_forward_ios

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

Loading...