Commercial Real Estate & Advisory

Fashion Designer Leases SoHo Loft

May 14, 2008

Christopher Owles and Michael Glanzberg of Sinvin Realty, LLC announced that fashion designer Richard Chai has leased the entire seventh floor of 107 Grand Street, the eight-story charmer at the corner of Mercer Street in SoHo.
The Ecco Domani Fashion Foundation winner and former designer for Marc Jacobs signed a lease for the 8,600 s/f with landlord, Man Yun Real Estate Corp., which was asking $60 per square foot.

Owles and Glanzberg represented Man Yun in the 10-year deal.

Chai’s lease was guaranteed by SK Networks, which oversees businesses including manufacturing and distributing for fashion icons Tommy Hilfiger and Donna Karan. Chai was represented in the transaction by Esther Zar of Metro Spire, LLC.

“This sun-washed loft space has great light with views on three sides, and is an ideal home for a creative company like Richard Chai,” said Owles.

The 1915 building has a newly renovated lobby and state-of-the-art technological infrastructure, while retaining the SoHo appeal of original hardwood floors and oversized windows.