Broadway Rehearsal Space Pearl Studios Returns to Garment District
By Rebecca Baird-Remba December 16, 2021 5:15 pm
reprints
Pearl Studios, a rehearsal space that has hosted many high-profile Broadway productions, will reopen at 500 Eighth Avenue after closing at the beginning of the pandemic, Commercial Observer has learned.
The dance studio has signed a new, 10-year lease for 46,000 square feet on the entire third and fourth floors of the Garment District building between West 35th and West 36th streets, up the street from Pennsylvania Station, according to the landlord’s brokers at Walter & Samuels.
Pearl Studios occupied the space for 13 years prior to shutting its doors in March 2020, as the entire Broadway theatrical industry shut its doors for 18 months. The facility has hosted rehearsals for a slew of well-known Broadway hits, including “Wicked,” “The Music Man,” “Ain’t Too Proud to Beg” and “Waitress.”
Walter & Samuels’ Steve Forest represented the landlord, an investment group led by Walter & Samuels Chairman David Berley, in the transaction. The tenant did not have a broker, and asking rent for the space was not disclosed.
“Like New York, the building is positioned to come back better than ever,” added Berley, who is a producer of “Waitress.” “It’s a joy to be able to marry my passions for real estate and the arts into this deal. Bringing a tenant like Pearl Studios back will ensure a dynamic building tenancy that remains rooted in the area’s diverse industries such as technology, finance, fashion, theater and the arts.”
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
