Camera Maker Leica Plans a Meatpacking District Flagship
By Rebecca Baird-Remba October 20, 2022 1:42 pm
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Pricey camera manufacturer Leica is opening a new Meatpacking District flagship, complete with a gallery, classroom and outdoor space.
The German camera maker leased an entire 4,000-square-foot building at 406 West 13th Street, landlord Aurora Capital Associates confirmed to Commercial Observer. Asking rent in the 10-year, triple-net lease was $400 a square foot, according to Aurora.
The store is expected to open in mid-2023, according to The New York Post, which first reported on the lease.
Aurora is expanding the small building, along with a larger one next door, replacing the windows and facade, and adding a small mezzanine and outdoor terrace. The Landmarks Preservation Commission was required to sign off on the changes because the property is between Ninth Avenue and Washington Street in the Gansevoort Market Historic District.
Leica — which manufactures cameras that can fetch more than $10,000 —currently has a store at 460 West Broadway in SoHo, but wanted the larger space in Meatpacking to host photography shows and events, according to Aurora.
Charlie Koniver and Gabriel Paisner of Odyssey Retail Advisors represented Leica, while Jared Epstein of Aurora handled the deal in-house for the landlord. The brokers declined to comment.
Epstein said in a statement that Leica learned about “our development prowess and execution excellence from their brokers and tenants in the neighborhood, which is why they chose to lease a building that has been in disrepair for decades for their future NYC flagship.”
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
