Flatiron welcomes Lucky Brand Jeans

Real Estate Weekly, July 18, 2001

As part of its plan to expand its retail presence in key New York City areas, Lucky Brand Jeans signed a lease for a retail store at 172 Fifth Avenue. Robin Abrams and Howard Dolch of The Lansco Corporation represented the tenant in the transaction and fellow Lansco brokers Alan Victor and Sylvia Haddad handled negotiations on behalf-of the owner, 172 Fifth Realty Associates. The retail space was formerly occupied by two retailers, Mom's Cigar Store, which had been at the address for more than 40 years, and a travel agency adjacent to it.

The 12-year lease includes a total of 3,400 SF on the ground floor and lower level of the building, which is located on the Northwest corner of 22nd Street in the Flatiron district. The aggregate value of the lease is in excess of $4 million.

Lucky Brand Jeans opened its new 172 Fifth Avenue store for business this month. The retailer currently has two additional Manhattan stores, one in SoHo and another on Columbus Avenue, and plans to open an additional store on Third Avenue this year.

"When we initially explored the corner space, we thought it might be too small for the tenant, but after further discussions, the ownership was able to combine it with an adjacent space and deliver one large, contiguous space," said Abrams. "The Flatiron district has become a key area for retailers looking to position themselves in high-profile locations, and Lucky Brand Jeans fits that description perfectly."

Neighboring retailers include Zale Jewelers, Eileen Fisher, Anthropologie, Emporio Armani, Banana Republic, J. Crew and, coming soon, Fossil. The space is also located diagonally across from Flatiron's Restoration Hardware site.

A leader in retail leasing for more than three decades, The Lansco Corporation has helped locate and arrange store leases for such prominent retailers as Ralph Lauren for its flagship store in the Rhinelander Mansion, Cartier, Lancel, Talbots, Zara, Faconnable, NIKETOWN, J. Crew, Vivien Westwood, Gianni Versace, H&M, H. Stern, and many other foreign and domestic chains. Over the past three years, the New York based company, which specializes in retail leasing as well as corporate office leasing, has negotiated transactions involving over $2.2 billion in aggregate rental.