Bloomberg reported on May 22 that the active-wear maker was in “advanced talks” for the space at 597 Fifth Avenue between East 48th and East 49th Streets, previously occupied by Sephora. As of today, that deal has been sealed, sources told CO.
The selling portion is 8,000 square feet spanning the ground floor, balcony and mezzanine, a source in the know said, plus about 5,000 square feet in the basement for operations. The rent is roughly $400,000 per month, the source said. Another person close to the situation said the store will open in late July.
Thor declined to comment via a spokesman. A spokeswoman for Lululemon declined to comment because the company is releasing its latest earnings report on Thursday. RKF‘s Jeremy Ezra and Karen Bellantoni represented Lululemon in the deal and Ezra declined to comment.
The 12-story 1913 building was originally built to house Scribner’s Bookstore. Upstairs are office tenants like ValuePenguin, a personal finance company that took the entire fifth floor, as CO reported last October.