Commercial Real Estate & Advisory

Away Signs 10-Year SoHo Lease

By Betsy Kim | May 21, 2018

NEW YORK CITY—The travel and lifestyle brand Away has signed a 10-year, 56,000 square-foot lease at the HSRC (Heng Sang Realty Corporation) property at 82 Mercer St. The asking rent was $79 per square foot.

The property, situated between Spring and Broome streets has many attributes associated with buildings in SoHo including 15’ high exposed ceilings, exposed brick walls and archways, hardwood floors and cast iron columns.

HSRC is renovating the premises, creating a new lobby on the Broadway street side. Away will occupy the entire lower level, part of the second floor and the entire third floor.

The office space at 82 Mercer is now fully occupied, leaving a retail area of approximately 10,000 square feet. Other building tenants include Bath & Body Works and Konrad.

Newmark Knight Frank’s president New York tri-state region David Falk, senior managing director Eric Cagner, associate director Jon Franzel, and associate Alex Leopold represented HSRC. Sinvin represented Away.

“We recognized early on that 82 Mercer offered today’s creative tenant an A+ location for the quality of life that a company wants for their employees,” says Cagner. He notes HSRC’s capital commitment to restore and maintain building features such as the exposed brick wall and high ceilings helped the NKF team to secure a tenant who is a good match for the space.

AWAY sells luggage with features such as portable technology built into suitcases, which eliminates the need for additional batteries or phone chargers for devices while traveling. The company is vacating their space at 419 Lafayette St., to accommodate its expanding business.

HSRC owns and manages real estate in China and the US. In New York City, the company is known for its properties in Soho, Nolita, Bowery and Midtown.