Children’s apparel company Hartstrings, a subsidiary of the Parigi Group, has entered into a 10-year lease for its first Manhattan store across the 5,500-square-foot retail space at 1114 First Avenue, Commercial Observer has learned.
The deal follows a successful four-month pop up experiment at the eight-story property, which is owned by Himmel & Meringoff.
“The boutique will bring a much-needed resource to East Midtown, populated by so many families with young children,” said Leslie Himmel, principal at Himmel & Meringoff.
Hartstrings, which sells merchandise through 23 retail locations across the United States, was drawn to the location in part due to its proximity to Bed Bath & Beyond, located across the street at 410 East 61st Street. The latter company just completed a renovation of its property to include Buy Buy Baby.
“Our property is situated directly across the street from BBB’s big box, which draws traffic to the area,” said Ms. Himmel.
Asking rents were $150 per square foot.
Darrell Rubens and Lee Block of Winick Realty Group and in-house leasing team of Mark Stein and Jason Vacker represented Himmel & Meringoff in the transaction, while Benjamin Srour of Norman Bobrow & Company represented The Parigi Group.