Retail Store Rumi Headed to First Manhattan Outpost at 446 Broadway
By Celia Young December 16, 2021 11:40 am
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Retailer Rumi has its sights — and aesthetically pleasing toys — set on Manhattan.
Rumi — known for cutesy toys, home goods, stationery and beauty products — inked a deal for its first store in Manhattan in 2,950 square feet at 446 Broadway, Commercial Observer has learned.
The chain, which has locations in Queens, Staten Island and Long Island’s Garden City, plans to move into the space early next year, according to a source familiar with the transaction. Asking rent was $300 per square foot for the eight-year deal.
Landlord KPG Funds is building out Rumi’s new partial first-floor retail space in the five-story building between Grand and Howard streets, according to the source. The landlord declined to comment on the deal.
KPG renovated the space earlier this year, adding new elevators, an HVAC system and high-speed internet; and outfitted it with pre-built suites designed by architectural firm 11FiftyNine, CO reported.
The about 40,000-square-foot property, first constructed in 1915, is also home to Denmark-based information technology company The Org, which holds about 7,463 square feet of office space at the building after relocating from 118 Spring Street in a deal that closed mid-September, CO reported.
RIPCO Real Estate’s Richard Skulnik represented KPG in the Rumi deal. Yang Realty’s Zoe Yao represented the tenant. Skulnik and Yao did not immediately respond to requests for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
