Leases  ·  Retail

Dr. Martens to Open Herald Square Store


Dr. Martens is completing a lease today at Empire State Realty Trust’s 1333 Broadway in Herald Square.

ESRT Chairman and Chief Executive Officer Anthony E. Malkin announced the new tenant while speaking on CO’s panel on the future of Midtown East this morning.

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The British footwear and clothing brand is taking 1,750 square feet at grade and 1,700 square feet in the basement for storage at the 12-story building between West 35th and West 36th Streets, according to Fred Posniak of ESRT, who represented the landlord in-house along with Shanae Ursini. Posniak wouldn’t disclose the length of the lease but said the asking rent was $400 per square foot.

“We purposely were waiting for the right tenant to proceed to take that space,” Posniak told CO. “That’s almost a power center between Urban Outfitters, Rituals, now Dr. Martens and Shake Shack. That’s a great tenant mix.”

The new store at the 354,962-square-foot structure, in space formerly occupied by Conways Stores, will open in spring 2017, Posniak said.

Keith Fencl of The McDevitt Company, who represented Dr. Martens in the deal, wasn’t immediately reachable.

Dr. Martens has two stores in Manhattan, one at 148 Spring Street in Soho and the other at 868 Broadway in the Union Square area. In February, CO reported that the company leased space at 193 Bedford Avenue at North 7th Street in Williamsburg, Brooklyn.