Lee & Associates NYC associate director JP Sutro has arranged a 10-year lease for luxury children’s clothing store L.O.L Kids at 216 Front Street, near the South Street Seaport.
Sutro, who worked on the deal with Lee NYC managing principal Peter Braus and senior managing director and principal Brad Schwarz, represented the owner of the 1,075 s/f, The Durst Organization. Ava Kim of Oxford Property Group represented L.O.L Kids.
“L.O.L. Kids will be a terrific addition to the Front Street community,” said Robert Becker of The Durst Organization. “Lee NYC has done a great job helping to revitalize Front Street and we look forward to working with them to make the neighborhood more dynamic, vibrant and exciting.”
“The L.O.L Kids lease is the most recent example of Front Street’s triumphant comeback from the devastation of Hurricane Sandy,” added Sutro.
“Between The Durst Organization’s commitment to revitalizing Front Street and our tenant’s attraction to the area’s authenticity, this cobble-stoned corridor is now thriving so strongly that there are only two availabilities left out of 22 stores.”
In addition to 216 Front Street, Lee NYC represents The Durst Organization in its new development at 625 West 57th Street, comprising 45,000 s/f of retail space on the ground floor of the 709-unit luxury residential building. They were also awarded exclusive agency for The Durst Organization at 136 West 44th Street, which will encompass a built-to-suit 13,000 s/f restaurant space between Broadway and Sixth Avenue in Times Square.
According to Ava Kim, LOL Kids originally wanted to find a space at in Chelsea/Flatiron, or Tribeca. They currently have a boutique in Chelsea, where they have developed a loyal customer base since 2006.
However, the broker said, “But I thought they would be a good match for 216 Front Street because the architecture of the space matches the style of LOL Kids. I did not think the quiet street would work for most businesses, but since my client has a following, they could make the quiet space work.
“There is also a fast-growing population of young families in the Financial District and South Street Seaport area, and no upscale children’s wear boutiques nearby.”