Rihanna is ready to shine bright like a diamond in Brooklyn, reportedly locating the city’s first Savage x Fenty store a stone’s throw from Barclays Center.
The lingerie brand signed a 10-year lease for the three-story building at 182 Flatbush Avenue in Park Slope, Women’s Wear Daily reported. The 6,100-square-foot store in the Triangle Building — the former home of Triangle Sports — is in a high-traffic area near the arena and the Atlantic Avenue transit hub.
The asking price for the space was $650,000 per year, according to WWD. Construction has reportedly started on the space, which will include Savage x Fenty branding on the building’s exterior.
The Brooklyn store will be Savage x Fenty’s largest yet and its first freestanding location outside of a mall, WWD reported. The first retail location opened last month in Las Vegas and there are plans for more in Los Angeles, Houston, Philadelphia and Washington, D.C.
According to the Commercial Observer, Compass’ Ralph Hanan and Brett Weinblatt represented the landlord, Hidrock Properties, in the lease. Savage x Fenty was represented by Matthew Seigel of Lantern Real Estate.
In late 2019, Hidrock purchased 182 Flatbush Avenue from RedSky Capital for $7 million. At the time, the Hidary family-run firm was reportedly planning a multi-million dollar renovation of the property. But a long period of dormancy followed, even as the strip of Flatbush Avenue south of it became a hive of activity.
RedSky purchased the property in 2012 for $4.1 million. It was part of a portfolio RedSky and its equity partner, JZ Capital Partners, assembled across New York and South Florida.
The 34-year-old Rihanna hasn’t released new music in years, instead focused on business and philanthropic efforts. She recently revealed she’s pregnant with her first child with rapper A$AP Rocky.
Last year, Rihanna listed her Hollywood Hills home for $7.8 million, on the heels of several other real estate deals during 2021. The billionaire pop star and cosmetics mogul bought the property in 2017 for $6.8 million.
[WWD] — Holden Walter-Warner