Commercial Real Estate & Advisory
Commercial Real Estate & Advisory
Sinvin Realty, LLC announced that top designer shoe manufacturer Mascaró is opening a new signature shop at 436 West Broadway between Prince and Spring Streets.
The long-successful company signed a lease for one of the units in the building just a few doors up from its store at 430 West Broadway, and will shift its operations to the new store.
CHRISTOPHER OWLES, principal at Sinvin Realty, is the exclusive agent for landlord 436 Realty LLC, and negotiated the ten-year deal for the 550 s/f ground floor space with 11 feet of floor-to-ceiling all-glass frontage. Stuart Ellman of Judson Realty represented the tenant in the transaction.
“Even though the space is relatively small, West Broadway’s unique two-lane width, combined with the building’s corner on Prince Street, give 436 West Broadway incredible visibility from many directions,” Said Owles.
“Mascaró knows the area’s high foot traffic will continue to draw in footwear fashionistas searching for designer shoes.”
“Mascaró had originally inherited the space at 430 West Broadway from one of its vendors, and saw much success, but the space was bigger than necessary and not efficiently laid out for its use,” added Ellman.
“Knowing the shop could operate just as well in a smaller space, it all came together to move to 436 when the 430 lease expired.” The reported asking rent for the space was about $363.64 per square foot. Sinvin is currently marketing a 400-square-foot retail unit in the building as well.
One of Mascaró’s specialty line of shoes, Pretty Ballerinas™, which consists exclusively of ballet flats, is quite popular with celebrity shoppers such as Katherine Heigl and Lindsay Lohan.