THE Italian design store Etro has plunked down $12.03 million to buy the 2,500-foot, ground-floor retail space at 89 Greene St.
The space, in a prominent five-story, red brick building on the northwest corner of Spring in SoHo, is currently occupied by a Korean greengrocer – and is the only building in the area not already housing a fashion king.
The purchase also includes a 2,500-foot basement with a high ceiling that architects are now designing for retail. The rest of the building was previously sold as office condos.
“The Etro family was committed to that corner and were going to do everything they could to get it – and it wasn’t even on the market,” said Yair Staav of The Lansco Corp., who, along with colleague Jane McVerry, arranged the entire kit and caboodle.
The prize space has 25 feet of frontage along Spring Street and about 100 feet along Greene Street.
Neighboring retailers include Burberry, Longchamp, J. Lindeberg and John Varvatos.
In 1996, Etro opened its only other city shop in the six-story townhouse at 720 Madison Ave., which it built from scratch and includes an apartment for the family’s use.
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Wine aficionados keen to mix their own barrel of Burgundy or Chardonnay will soon be able to fulfill those fantasies with the opening this fall of City Winery at 143 Varick St.
Billed as the first post-modern winery and event space, the 21,000 feet will become an urban “winederland” for oenophiles.
Owned by former Knitting Factory impresario Michael Dorf, City Winery will include a restaurant, bar and top notch performance space, while also offering wine events, classes and tastings.
Robert Frischman of JDF Realty worked with the tenant during the two-year search, while the building’s owner, Trinity Church, was repped in-house.
For you historians, this was the original El Diario building.
“This is a major, major transaction for Hudson Square,” said Frischman, noting the site is right between the Trump SoHo and the upcoming Viceroy at 330 Hudson St. “When the winery and the two hotels open, the whole area will start popping.”
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Y-3, the Adidas collection by designer Yohji Yamamoto, leased 2,500 feet at 92 Greene St. for a SoHo store in the new condominium project.
The Lansco Corp.’s Christine Emery and Yair Staav originally sold the parking lot to the developers and were later tapped to lease the retail units, which had an asking rent over $200 per foot.
French-owned fashion house Cotelac previously signed a deal for the other storefront.
There is also a Yohji Yamamoto store at 103 Grand St., and as we told you, a Y-3 store is coming to the Meatpacking District at 313 W. 13th St.
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Jeffrey Rosenblatt, previously of Grubb & Ellis, has joined Kent Swig, but not at Swig Equities as we said last week.
He’s now part of the “new” HelmsleySpear, which is owned by Swig, who serves as president.
A second, 25-year real es tate veteran, Lewis Cowen, also just left Grubb & Ellis for HelmsleySpear.
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First-round bids are in from about two dozen worldwide owner wannabes for 1301 Avenue of the Americas, the trophy tower at 54th Street that was previously the JC Penney and Credit Lyonnais Building.
The 1.8 million footer is the premiere slice of the Equity Office Properties-Blackstone Group-Macklowe Properties portfolio that is now controlled by Deutsche Bank.
We hear the bank has allocated debt on it north of $1.5 billion, but there is concern that the bids, now in the hands of marketers at Eastdil Secured, may not cross that hurdle.
No one is talking.
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The National Yiddish Theatre/Folksbiene has found itself new offices and a rehearsal space on the fifth floor of 135 W. 29th St.
They will move from the old Workman’s Circle Building at 45 E. 33rd St., which has been sold.
Sasha Majerovsky of Citywide Properties brought them to the 12-story Chelsea building, while Ilan Mosery of MFM Properties repped the ownership in-house.
The 93-year-old theater company is still searching for a permanent, approximately 199-seat theater space, said managing director Georgia Buchanan.
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The Fencers Club of New York signed a 10-year lease for the second floor of 12,500 feet at 229 W. 28th St.
They will move from 119 W. 25th St.
David Lebenstein and Debra Wollens of Colliers ABR represented the club in the transaction, while owner Joss Realty Partners was repped by Barry Bernstein and David Danick of Winoker Realty.
