Beauty salon Blo Blow Dry Bar has signed a 10-year lease for a 550-square-foot space at 142 East 49th Street, Commercial Observer has learned.
The company, in which Academy Award-winning actress Gwyneth Paltrow is a creative partner, has about 60 locations across the globe. Blo Blow Dry Bar’s new store will occupy the ground floor of the building between Lexington and Third Avenues. The landlord is a co-op board under the name 142 East 49th Street Owners Corp. Co-op, according to CoStar. The asking rent was $200 per square foot.
“We had many requests for the space from juice and coffee bars, but since the site was restricted to dry use only these businesses were unacceptable,” Eastern Consolidated’s James Famularo, who represented the landlord in the transaction, said in a prepared statement. “With Blo Blow Dry Bar, we found the perfect tenant for the building and an ideal space for the franchisee.”
The salon at 142 East 49th Street will open in the first quarter of 2016, according to Henry Rossignol of Murro Realty, who together with colleague Cosmo Montemurro, represented Blo Blow Dry Bar in the transaction.
The blow dry salon currently has three locations in Manhattan at 800 Avenue of the Americas in Chelsea, and 325 East 64th Street and 260 East 72nd Street.
Blo Blow Dry Bar was founded in 2008 by Canadian entrepreneurs Ari Yakobson and his wife, Vanessa Melman Yakobson.