Commercial Real Estate & Advisory
Commercial Real Estate & Advisory
As exclusive agents for the retail stores at 196-198 Spring Street, and specialists in the SoHo area, Sinvin Realty principal Christopher Owles, with agents Kristin McCann and Lisa Webb, secured two ten-year leases back-to-back for the Spring Street spaces between Thompson and Sullivan Streets, owned by LF East 21 Property Co., LLC.
At 196 Spring, Z’Baby Company, a favorite children’s wear company of celebrity moms such as Jennifer Garner and Angelina Jolie, signed a lease for 500 square feet on the ground floor, plus 350 square feet in the basement. The asking rent for the space was $9,500 per month. Linda Elmani of Bapple Real Estate represented the tenant in the deal.
In the second deal, at 198 Spring, fashionable jewelry designer Iradj Moini, former couture jeweler for Oscar de la Renta, signed a lease for 550 square feet on the ground floor, plus 200 square feet in the basement for the same asking rent of $9,500 per month. Owles and McCann also represented the tenant in this deal.
“We were pleased to be able to secure small SoHo boutique spaces for two very fashionable companies that may not have been able to find or afford stores in the Cast Iron District to the east of West Broadway,” said Owles
“Much of that area consists of large cast iron buildings that don’t lend themselves well to boutiques of this size, and where there’s much more competition from national brands. Z’Baby and Iradj Moini will help push fashion into an area of SoHo that has for many years been dominated by restaurants.”
Z’Baby Company was founded by Sharone Glaser in November of 1995, opening at 100 West 72nd Street. She opened a second store at 996 Lexington Avenue in 1998.
Although originally trained as an architect, Iranian-born Iradj Moini’s career really took off after he began designing catwalk jewelry for Oscar de la Renta Couture in the late 1980s. A string of prestigious clients and retail outlets have confirmed his reputation as one of the most imaginative of contemporary designers in the world.