Jeweler PDPaola Signs Lease at 346 Bleecker for First North American Location
By Mark Hallum October 16, 2024 9:00 am
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A Spanish jewelry brand is bringing its baubles to the West Village in the brand’s first retail location for its planned major expansion to the U.S., Commercial Observer has learned.
Barcelona-based PDPaola signed a five-year, 1,500-square-foot lease at BLDG Management’s 346 Bleecker Street, where it plans to sell bespoke jewelry, according to tenant broker Ripco Real Estate.
Ripco did not immediately disclose the asking rent, but average asking rent across 16 main retail corridors in Manhattan was $716 per square foot in the third quarter of 2024, according to CBRE.
PDPaola plans to have three stores in North America this year and 15 by 2025, the brand told Forbes in July. To do that, it appointed Jason McNary in August as North American CEO. He said the brand could, in fact, easily expand to 100 stores in North America. It has 80 stores in Spain, Italy and Greece.
“Leveraging our deep expertise and comprehensive data analysis, we are identifying prime locations that align with PDPaola’s vision, both in urban centers and suburban communities,” Jeffrey Rosbash, who handled the deal with Gene Spiegelman and Morgan Singer of Ripco, said in a statement.
Joel Isaacs and Greg Flood of Isaacs and Company negotiated on behalf of the landlord, but did not immediately respond to a request for comment.
Former architect Paola Sasplugas founded PDPaola in 2015 with her brother Humbert Sasplugas and it soon took off with $25 million in sales after launching a website, according to Forbes. It now has a presence in 150 countries.
Mark Hallum can be reached at mhallum@commercialobserver.com.
