Commercial Real Estate & Advisory

Boutique Leaves W’burg for Trendy TriBeCa Spot

August 5, 2009

Sinvin Realty, LLC announced that the retail space at 35 N. Moore Street, between Varick and Hudson streets in TriBeCa, was just leased to women’s fashion and accessories boutique, OTTE.

The tenant signed a 10-year deal for the 1,200 s/f ground floor, which had a reported asking rent of $70 per square foot.

An all-Sinvin transaction, senior managing director ROXANNE BETESH and director MAGNOLIA MARTIN negotiated on behalf of the landlord, while director CHRISTOPHER JOHNSON represented the tenant.

Offering a balance of edge and sophistication from established and emerging designers such as Claudie Pierlot, Alexander Wang, and Helmut Lang, OTTE, debuting in Williamsburg in 1999, has catered to the hipster and fashionista alike.

Since then, its locations in the West Village and on Madison Avenue, regular features in fashion mags, as well as its online store, allow the boutique to bring a wide but carefully curated selection to its diverse customer base.

OTTE now leaving Brooklyn entirely and landing in artsy TriBeCa for its third Manhattan shop is the next logical step for the brand, and a welcome addition to an area distinguished by galleries, home furnishings and restaurants, and of course, chic lofts.

“Tribeca is Manhattan’s most affluent neighborhood, but is greatly underserved by fashion retailers,” explains Johnson. “OTTE will help supplement this need.”