SoHo gets new furniture store

Real Estate Weekly, May 28, 2003

Furniture company, Atmosphere Home Inc., which has a retail location in San Francisco and a factory in Los Angeles, recently inked a deal for its first-ever New York City retail location at 121 Wooster St. Atmosphere, which makes moderate- to high-priced contemporary furniture, signed a 10-year lease for 4,500 SF of ground-floor retail space plus 4,000 SF of finished basement space.

According to Christopher Owles, managing director of Sinvin Realty Corp. who represented the landlord, Jordan Wooster in the transaction, the retailer is set to open in June.

The terms of the lease are undisclosed, but the asking price for the space had been $130 per SF.

"Atmosphere was attracted to SoHo space because of the, low rents, receptive consumers and the neighborhood's increasing concentration of home furnishings stores," said Owles. "The space is also located on one of Sohols most fashionable blocks, surrounded by such world class retailers as BCBG/Max Azrai, Chanel, Camper, Barbara Bui, Eres, Malo, Knoll and Cappellini Modernage.

Located between Prince and Spring Streets, the space was formerly occupied by the Tony Shafrazi Gallery and offers 18-foot ceiling heights, 35 feet of frontage, a huge 101 x 301 skylight, elegant Corinthian columns, concrete floors and a large basement with 10-foot tin ceilings.

Robin Abrams, executive vice president, and Roger Eulau, senior director, of The Lansco Corp. represented Atmosphere in the transaction.

"Traditionally, galleries, home furnishings tenants and boutiques would be attracted to Soho, but as rents escalated over the past few years, those tenants relocated to alternate areas," noted Ms. Abrams. "With rents becoming more reasonable, we have seen an influx of retailers like Atmosphere. The high ceilings and open, clean space made this an ideal location for the retailer's flagship New York showroom."