Lease Beat

Banana Republic Signs for 12,245 Square Feet on Prime Upper West Side Corner

RKF has arranged a 12,245-square-foot lease for retailer Banana Republic at 2373 Broadway, a source tells The Commercial Observer. The national apparel brand’s new space on the ground and second floors of 22-story luxury residential building The Boulevard features 150 square feet of wraparound corner frontage on the northwest corner of Broadway at 86th Street.

The Boulevard is owned by Boulevard West LLP, a unit of Texwood Investments, Inc. RKF represented the building owner and tenant. Banana Republic, a division of The Gap, Inc., will close an existing store across the street at 2360 Broadway and plans to open the new location in early 2013, sources said.

2373 Broadway

2373 Broadway

The 2373 Broadway space features 8,018 square feet of ground floor retail and 4,227 square feet on the second floor. The corner spot at the highly trafficked Upper West Side hub along the 86th Street corridor is a coup for the retailer, which currently has more than 600 stores worldwide and 12 in Manhattan. Brooks Brothers opened its eighth Manhattan location at 2381 Broadway in March.

The Upper West Side has enjoyed a retail boom recently, especially along Columbus Avenue. Banana Republic’s neighbors will include Gristede’s, Coach, and Club Monaco.

RFK is collaborating with Texwood on another of its building at 583 Broadway. That Soho address–the home of the New Museum until it decamped to the Bowery in 2007–features three floors and 20,000 square feet of retail space.

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