Wednesday, July 26, 2017

Retail rent at 190 Bowery is $2 million a year

The news yesterday was that fashion emporium Totokaelo has signed a lease for 8,918 square feet at the landmarked 190 Bowery.

Totokaelo, which sells designer lines such as Acne Studios and Jil Sander, plans to open a pop-up shop from this fall to March 2018. A rep for owner Aby Rosen’s RFR said that he hoped it would turn into a longterm deal.

Whoever the tenant will be needs deep pockets. According to the Post: "the asking rent for the retail space on the ground floor, mezzanine and basement was $2 million a year." Or roughly $166,000 a month.

Rosen bought the landmarked building from photographer Jay Maisel for a reported $55 million in 2014.

Previously
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5 comments:

  1. pinheadJuly 26, 2017 at 8:14 AM

    I'm thinking dollar slice joint... Hold a sec while I do the math...

    ReplyDelete
  2. AnonymousJuly 26, 2017 at 8:34 AM

    Mr. Rosen should have a good return on his investment in no time. Good for him our global economy can afford loss leading mega flagship stores until a few mega online retailers put and end to brick and mortar retail.

    ReplyDelete
  3. AnonymousJuly 26, 2017 at 8:50 AM

    The high-end reincarnation of the Bowery isn't going to happen. Unless they're opening a liquor store or an escort service they'll never make that rent.

    ReplyDelete
  4. DrGeckoJuly 26, 2017 at 9:37 AM

    Liquor store or escort service? Why not both?

    ReplyDelete
  5. AnonymousJuly 26, 2017 at 1:29 PM

    There was a fire here a while back, on the roof if I remember. They had a terrible contractor there I believe they were called Tri Star Construction. They are know for low quality work and double charging clients. At least that what was reported in the news at that time. 2 million in rent, no honest retail business would be able to afford that kind of rent and make a profit. Once again greedy landlord with empty spaces.

    ReplyDelete

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