Barneys New York, the luxury retailer, announced that it will return to its downtown roots on 7th Avenue between 17th Street and 16th Street with a flagship slated to open in 2017.
An original presence in the Chelsea neighborhood spanning 90 years, the new Barneys New York flagship will occupy a major portion of its former historic store.
“Today’s announcement represents the realization of our long-standing goal of returning to downtown with a substantial location,” said Barneys New York chief executive officer Mark Lee.
“The opportunity to revitalize our presence with a state-of-the-art store on the same street where the company served customers for 75 years only enhances that plan.”
NGKF executive vice president Jeffrey D. Roseman represented Barneys in the 57,000 s/f lease at 101 Seventh Ave., between 16th streets. The store, which will occupy five floors of the building with a Freds restaurant on its upper level, is slated to open in 2017. Loehmann’s has been occupying the space since Barneys’ departure, and coincidently recently filed for Chapter 11 bankruptcy protection.
“The fact that the site was still referred to as ‘The former Barneys store’—20 years after it left—shows the impact it had on the neighborhood,” Roseman said. “Barneys’ return to that historic location is clearly monumental not only for Chelsea, but all of New York City.”
The store will have 200 feet of frontage running along the majority of the Seventh Avenue block and wrapping the corner of 16th Street. The interior will maintain an aesthetic consistent with the recent renovations of the Madison Avenue store, which emphasize a modern, open, gallery–like feel.
The Barneys New York downtown store will carry men’s and women’s designer clothing, shoes, and accessories, and will feature a Foundation level for cosmetics, skincare, and fragrances.
Barneys is leasing its Chelsea space from Equity One, a national retail REIT based in North Miami Beach, Fla. Ownership was represented by Peter Ripka of Ripco Real Estate in the transaction.