Australian shoe designer Feit is headed to the United States after signing a lease in Nolita, Commercial Observer has learned.
Feit, which makes its shoes for men and women by hand, took 750 square feet on the ground floor (plus 700 square feet on the lower level for administrative functions and storage) at 2-6 Prince Street, between Bowery and Elizabeth Street, according to Tull Price, who co-owns Feit with his brother Josh.
The roughly 10-year deal was signed about a week ago, with an asking rent of $240,000 per year, sources with knowledge of the deal said.
Mr. Price said the Manhattan store, with shoes starting at $500 a pop, will open at the beginning of November. The company’s design office has been in Soho for about three years and with the online success of Feit’s shoes in America, particularly in New York City, Feit decided it was time to open a store in New York City. Of all of its shoes, the Wool Hiker was popular with New York men in the winter, and the Bio Trainer was a hit with New York fellows in the spring, Mr. Price said.
“The type of products we make—people need to really touch and feel them,” said Mr. Tull, who co-owned Royal Elastics athletic and leisure shoes until he and his partner sold it to K-Swiss in 2001.
Feit will become neighbors with Supra footwear, which opened its first U.S. store in the building in 2011.
“Feit chose this location for the corner exposure at the intersection of two of New York’s most exciting and dynamic retail sub-markets,” Matthew Seigel, an executive vice president of Thor Retail Advisors, who represented Feit along with colleague Skye Taylor, said in a statement provided to Commercial Observer. “The corner of Bowery and Prince Street is truly the epicenter of fashion retail, emerging luxury residential development and the premier hospitality destination in the city.”
Jean King represented the building owner, Al Sutton, in the transaction. Mr. King wasn’t immediately reachable for comment.