Alexander McQueen reveals plans for a massive new Soho location

The label signed a lease at 71 Greene

May.May 16, 2019 10:00 AM
71 Greene Street with Alexander McQueen's Sarah Burton (Credit: Google Maps and Getty Images)

71 Greene Street with Alexander McQueen’s Sarah Burton (Credit: Google Maps and Getty Images)

Fashion house Alexander McQueen is getting a new home in Soho.

The label — under French conglomerate Kering — has leased 6,600 square feet on two levels at 71 Greene Street, the New York Post reported.

The new McQueen store will be across the street from Kering’s Yves Saint Laurent store at 80 Greene Street. Kering’s Gucci store is nearby at 63 Wooster Street.

The label currently has a flagship about half that size at 747 Madison Avenue, the report said. It signed a 15-year lease there in 2013.

The identity of the owner at 71 Greene is masked by an LLC, though its managing agent is Midwood-based Esquire Management Corporation.

As the city’s luxury fashion areas remain popular, rents have stabilized. Pricing wasn’t available for the new store — but average asking rents along the main Broadway shopping area are in a range of $300 to $900 per foot, according to the Real Estate Board of New York, with an average in the mid-$500s per foot.

In late 2017, an analysis by The Real Deal found that retail was vacant in nearly $1 billion worth of newly purchased Soho real estate.

The fashion house was founded by the late Lee Alexander McQueen in 1992. Gucci Group bought a majority stake in 2000 and McQueen became its creative director. McQueen died by suicide in 2010. Sarah Burton is the brand’s current creative director. [NYP] — Meenal Vamburkar

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