Commercial Real Estate & Advisory

Sinvin Moves Valley Into NoLIta Store

July 8, 2009

Sinvin Realty, LLC announced that skin care specialist, Valley, moved its store to 198 Elizabeth Street in NoLIta from the Lower East Side.

Valley owners, sisters Julia and Nina Werman, have taken over the remaining lease (13 months) on the space previously occupied by the apparel store Hollywould, and have signed a direct extension for five additional years on the 1,000 s/f ground-floor space.

“Now in the heart of NoLIta, a neighborhood renowned for cool boutiques and hot-spot restaurants, Valley will bring the hip but classic culture and character of southern California to this area,” said MAGNOLIA MARTIN of Sinvin Realty, LLC, who represented Valley in the two-fold deal.

The six-story building has 15 feet of frontage and had an asking rent of $120 per foot for the retail space.

Steve Bellwood of Colliers ABR represented Hollywould in the sublease transaction, and building owner Ozi Management Corp. represented itself for the direct lease extension.