Lease Beat

Superdry USA Takes Over Former Payless Shoe Source and Genesis

The hip streetwear brand, Superdry USA, will be opening its fourth city shop at 716 Lexington Avenue, taking over the former Payless Shoe Source and Genesis locations. They have targeted August as the store opening.

Superdry USA also has locations on 718 Broadway, 729 7th Avenue, and 199 Water Street.

superdrypayless Superdry USA Takes Over Former Payless Shoe Source and GenesisBert Dweck and Chris DeCrosta of Thor High Street represented Superdry USA in the deal, while RKF’s Ariel Schuster and Justin Fantasia represented Payless Shoe Source.

The sublease was set at five years from Payless Shoe Source for about $1,500,000 per year. The space was not priced out with a per square foot breakdown for the ground floor and second floor, according to Mr. Fantasia.

The retail store totaling 6,900 square feet is comprised of two floors and a lower level. The building is a coveted retail space for its all glass façade that provides a view from the street of both the ground and second floors. The location, on Lexington and near Bloomingdale’s, was also a deal maker for the store.

“The area surrounding Bloomingdales provides retailers with a unique mix of shoppers to draw from – local New Yorkers, nearby office workers, out of towners and international tourists can all be found on the streets with shopping bags in hand,” Mr. Fantasia said.

RKF believes the space will offer a unique opportunity for a Superdry USA to brand itself with the acquired frontage and street presence and the chance to occupy an entire building in the city.

Neighboring tenants include: Aerosoles, Geox, Sephora, Starbucks, Steve Madden, The Body Shop, and Victoria’s Secret.

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