New York City-based hairstylist Nick Arrojo, who achieved fame after his appearances on reality network TLC’s “What Not To Wear,” has partnered with L+M Development Partners to lease space in South Williamsburg.
First reported by The Real Deal, the lease has been signed for space at the firm’s 11 Broadway location, which is a 35,000 square-foot mixed-use development. In early 2015, Arrojo Studio will open on the ground floor of the space and will occupy 3,400 square feet. Though L+M did not provide specific details of the lease, asking rents in the area have soared to $175 per square-foot.
“We’ve been searching for the right space in the area for two years,” Mr. Arrojo said in a press release. “L+M’s 11 Broadway is the perfect space in the perfect spot.”
Christina Warner, the director of commercial real estate for L+M, said her company is “excited to welcome the world-class Arrojo Studio to Williamsburg.”
“The 11 Broadway site is a great example of a mixed-use, mixed-income development that brings together economic diversity and essential goods and services to enhance the lives of New Yorkers,” Ms. Warner said.
Winick Realty Group’s Diana Boutross represented both Arrojo Studio and L+M in the agreement.