Saint Laurent signs Meatpacking District store lease
French fashion house inks lease at Aurora Capital and William Gottlieb’s Gansevoort Row
Saint Laurent is opening a new store in the Meatpacking District.
The French fashion house signed a lease for 13,000 square feet at Aurora Capital Associates and William Gottlieb Real Estate’s Gansevoort Row, the landlords announced.
Saint Laurent will occupy the ground, second floor and lower level of the building at 70-04 Gansevoort Street. The store is expected to open next year.
The financial terms of the deal weren’t disclosed, but the asking rents on the block range from $500 to $700 per square foot.
Gansevoort Row is a nine-building retail strip between Greenwich and Washington streets that Aurora and William Gottlieb teamed up to redevelop in 2015.
Both are major landowners in the trendy shopping neighborhood, having also teamed up on projects like the Studio Gang Architects-designed Solar Carve office building at 40 Tenth Avenue, and the retail development at 21-27 Ninth Avenue, another Meatpacking retail development that’s home to Sephora and the celebrity-packed Catch NYC seafood restaurant.
Aurora is also planning another major redevelopment at the 50,000-square-foot office and retail building at 24 Ninth Avenue, along with David Ellis Real Estate.
Nationwide, retail has been performing well while other commercial real estate sectors like office and multifamily are struggling.
Saint Laurent already has two stores in New York: one at 3 East 57th Street off of Fifth Avenue and the other at 80 Greene Street in SoHo.
Aurora’s Jake Bank and Jared Epstein represented the ownership in-house, while Cushman & Wakefield’s Mike O’Neill negotiated on behalf of Saint Laurent.