Lease Beat

Charles Tyrwhitt Opens Third Store at 1177 Sixth Avenue

building sales articlebox Charles Tyrwhitt Opens Third Store at 1177 Sixth AvenueThe Biritsh menswear designer, Charles Tyrwhitt, is set to open its third location in New York.

Nicholas Charles Tyrwhitt Wheeler found the company in 1986 in London. It’s stores have spread through the city – including its flagship location on Jermyn Street, – Paris, and New York.

Their new store at the base of the building at 1177 Sixth Avenue in the Times Square district is set to appeal to the businessmen in the area.

The asking rent was $250 per square foot and the lease was set for ten years.

Annette Healey, senior vice president of CBRE and and broker for Charles Tyrwhitt, noted that the “high daytime population” was part of the motivation behind the deal. Robert Bonicoro and Jedd Nero of the same firm brokered the deal for the landlord, Silverstein Properties.

The other locations in New York are at 745 Seventh Avenue and 377 Madison Avenue. Mrs. Healey also noted that company opened a brand new location at 1000 Connecticut Avenue in Washington D.C. last week.

1177 Sixth Avenue was built in 1992 with 47 stories and over a million square feet. Some notable tenants include Bank Hapoalim, PricewaterhouseCooper LLP, Kramer Levin Naftalis & Frankel and the Carlyle Group. Retail tenants include Café Europa as well.  The property has over ten office spaces available with asking rents of mid $60s to low $80s.

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