A Glasgow, Scotland-based vintage clothing shop for men, women and children, has signed a lease for its first location in North America, in the East Village, Robert Frischman, executive vice president of retail brokerage at EVO Real Estate Group, told Commercial Observer.
Glasgow Vintage Company signed a five-year deal for 500 square feet on the ground floor and 250 feet in the basement of the five-story walk-up building at 331 East 9th Street, a property owned by Kushner Companies. (The landlord’s chief executive officer, Jared Kushner, owns Observer Media Group, which publishes Commercial Observer.)
The asking rent was $6,500 per month, said Mr. Frischman, who along with Brett Weiss, an EVO associate, negotiated the deal on behalf of Mr. Kushner and the shop.
The lease was signed in early May and Glasgow Vintage Company is moving in imminently.
The deal is significant, Mr. Frischman said, because it’s the “highest price per square foot on the block,” and it’s a “new international operator reconfirming the growth of East Village boutique retail.”
As the New York Post reported in February, Mr. Kushner snapped up the property as part of a $28.8 million portfolio of 55 apartment and five retail properties in the East Village.
The 7,619-square-foot building was erected around 1900, according to PropertyShark.