Japanese Fashion Brand 45R Stays Put in SoHo
By Rebecca Baird-Remba August 25, 2023 7:52 pm
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Upscale Japanese clothing brand 45R has extended its lease at 169 Mercer Street in SoHo, according to landlord Thor Equities.
The company, which prides itself on making comfortable clothes out of materials it sources from individual farmers, reupped its lease for 4,500 square feet through January 2028.
A Thor spokesperson declined to provide the asking rent for the space, but average asking rents in SoHo were between $320 to $385 per square foot in the second quarter, according to a CBRE report.
No brokers were involved in the deal. The Mercer Street store, which sits on the cobblestoned block between Houston and Prince streets, was the brand’s first location outside of Japan when it opened back in 2000.
“We are excited to continue to see strong retail activity throughout SoHo, and 45R has had ongoing success at 169 Mercer,” said Jack Sitt of Thor Equities.
The shop produces accessible styles at premium prices, with offerings like a $450 wrap sweater and an $826 denim shirt dress.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com
