Leases  ·  Office

Shoe Company Rothy’s Takes 8K SF in NoMad


Rothy’s — the direct-to-consumer shoe brand seen on the feet of Meghan Markle — inked a deal to open a New York City office in NoMad, Commercial Observer has learned.

The San Francisco-based company signed a 10-year lease for 7,500 square feet on the tenth floor of Kaufman Organization’s 236 Fifth Avenue between West 27th and West 28th Streets, a spokesman for the landlord said. Asking rent was $82 per square foot.

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Rothy’s plans to move into its NYC space, which will have offices and a showroom, in the first quarter of 2020, the Kaufman spokesman said.

The shoe company was founded as an online-only brand in 2016 and has raised a total of $42 million, including $35 million from Goldman Sachs (GS) in December 2018, CNBC reported. It recently moved into retail with a 600-square-foot location in San Francisco and plans to open five more locations around the country by 2020, including a spot in the West Village, according to CNBC.

Grant Greenspan and Jared Sternberg represented Kaufman in-house while Cushman & Wakefield (CWK)’s Evan Algier handled it for Rothy’s. Algier declined to comment through a spokesman.

“Rothy’s is the latest of many progressive and innovative tenants we have attracted to 236 Fifth Avenue and throughout our Midtown South portfolio,” Greenspan said in a statement.

The property’s amenities include full kitchens, a concierge and doorman services, and strong technology infrastructure. Other tenants in the 11-story, 80,000-square-foot building include men’s lifestyle publication Gear Patrol, fashion house Bill Blass and Lebanese restaurant Ilili.