Men’s Wearhouse Signs Upper East Side Lease
Al Barbarino Nov. 15, 2012, 10:22 a.m.
Men’s Wearhouse has signed a 10-year, roughly 8,800-square-foot lease at 1219 Third Avenue in the Upper East Side, The Commercial Observer has learned.
The menswear company is taking a 6,665-square-foot ground floor space and 2,100 square feet in the basement, said Gary Alterman of RKF, who represented both the tenant and owner, Fraydun Realty, in the transaction.
Mr. Alterman said the space was ideal for a single tenant because its l-shape made it difficult for ownership break up it up; it was a great fit for Men’s Warehouse, however, as the space allows for a distinction between its formal and casual lines of clothing.
The Upper East Side, residential location is something of a diversion for the company in New York City, as most of its stores are located in or around commercial centers.
“This is a good upper-middle income community – similar to those the company has experience with in suburban markets,” said Mr. Alterman, who has worked with the company since it moved into the city 14 years ago, planting its roots at 380 Madison Avenue. “This is one of the strongest chains in the menswear apparel business and I think they will do quite well here.”
Prominent locations include a store in Chelsea; another inside the Empire State Building; a location at 115 Broadway in the Financial District; and another at 3rd Avenue and 45th street.
The asking rent was $200 per square foot, though Alterman declined to specify the final price tag.