Timberland Takes 6K SF at 550 Broadway in SoHo
By Mark Hallum October 12, 2022 11:38 am
reprints
Shiver me timber(lands)!
Just in time for the holidays, Timberland is planning to open a SoHo outpost at 550 Broadway, Commercial Observer has learned.
The purveyor of the New York staple of boots signed a lease for 5,600 square feet with the Royal Crospin Corporation in the landmarked building formerly home to Banana Republic and HSBC, according to brokers from Newmark (NMRK).
Timberland signed a 10-year lease with an asking rent of $350 per square foot. The store, on Broadway between Prince and Spring streets, is expected to open before the winter shopping season, according to the brokers.
“SoHo and New York City in general continue to see an upswing in retail, with many national and international retailers and restaurateurs looking to get in while the iron is hot,” Jeffrey Roseman of Newmark said in a statement. “Timberland’s commitment to a long-term deal at 550 Broadway proves that.”
Roseman brokered the deal with Marc Frankel, also from Newmark, on behalf of the landlord, while Erin Grace, Matt Ogle, Michael Hirschfeld and Brian Hirschfeld from JLL (JLL) negotiated on behalf of Timberland.
JLL did not immediately respond to a request for comment.
Royal Crospin has owned the building since 1967, prior to the Landmarks Preservation Commission designating the parcel a landmark under the SoHo-Cast Iron Historic District in 1973, property records indicate.
Mark Hallum can be reached at mhallum@commercialobserver.com.
