Immersive Experience Provider TM:RW Inks 20K-SF Lease in Times Square

TM:RW, an immersive experience retailer, has taken 20,000 square feet across three floors at the Candler Building at 220 West 42nd Street.

The grand opening of the tri-level space took place Tuesday, according to a statement from NYC for Free, a site dedicated to sharing news about free events across New York City. 

“Across the 20,000-square-foot space, you’ll be the first to encounter a highly curated mix of design-forward immersive experiences that span gaming, health and wellness, food, beauty, entertainment and sports,” the statement continued. 

While the asking rent was not immediately available, the average asking rent for retail space in Times Square was $1,776 per square foot for the second quarter of 2025, according to CBRE data.

The length of the lease and the brokers for both sides were not immediately available. TM:RW did not immediately respond to a request for comment. 

The New York Business Journal first reported the news. 

Yellowstone Real Estate Investments acquired 220 West 42nd Street in 2022 from U.K.-based investment firm Epic for a $161 million deed in lieu of foreclosure. Yellowstone did not immediately respond to a request for comment. 

The Candler building is a 24-story, 440,000-square-foot Class A office tower built between 1912 and 1914 by Coca-Cola magnate Asa Griggs Candler. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.