Leases  ·  Retail

High-End Clothing Rental Store Janet Mandell Plans First NYC Outpost in Midtown South

reprints


Janet Mandell, a national chain that rents high-end fashion for a few days at a time, is opening its first New York City showroom in Midtown South.

The Chicago-based retailer took 5,000 square feet for 10 years at 24-28 West 25th Street, between Broadway and Avenue of the Americas in Midtown South, according to its brokers at Colliers. Asking rent for the space, which includes the ground floor and lower level, was $150 per square foot.

SEE ALSO: Law Firm Sublets 42K SF From CBS at 1345 Avenue of the Americas

The storefront half a block west of Madison Square Park will be Janet Mandell’s third location, along with stores in Chicago and Los Angeles. While the company doesn’t have a specific opening date yet, it expects to open the showroom sometime this year. The company sets up customers with a stylist at an in-person appointment, and then allows them to rent high-end designer clothes and accessories for up to four days at a time.

“Midtown South has seen an exciting rise in activity these last few months with retail spaces beginning to fill back up and add to the vibrancy in the neighborhood,” said Colliers’ Jake Horowitz, who brokered the deal for Janet Mandell. “Flatiron is quickly becoming one of the city’s newest centers for fashion and retail, and we’re thrilled to have been a part of bringing the first Janet Mandell store to New York.”

Cushman & Wakefield’s Patrick O’Rourke, Steven Soutendijk and Sean Moran represented the landlord, Savanna. A C&W spokesperson didn’t immediately return a request for comment.

Linhadley Eljach, a vice president at Savanna, said in a statement that the firm had “made substantial capital improvements to enhance the property, and it’s gratifying to see the leasing interest in the building from renowned brands like Janet Mandell.”

Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.