SL Green announced that Vashi, a British fine jewelry brand, has signed an 11,777 square foot, 15-year lease at 110 Greene Street in SoHo.
This will be Vashi’s first location in the United States and marks one of SL Green’s most significant retail lease signings of 2021.
“We’re excited to welcome Vashi, an innovative experiential luxury retailer, to New York City and into the SL Green portfolio,” said Brett Herschenfeld, Managing Director of Retail at SL Green. “Our recent retail leases are a positive marker that business owners are increasingly bullish on New York City’s reopening and the surge of returning residents, office workers and tourists spearheading our revival.”
110 Greene Street, a 223,600 s/f mixed-use building located in SoHo, provides office and residential tenants large floor plates and substantial common areas. The retail space at the building, along Greene and Mercer Streets, offers tenants high visibility on two of the strongest retail streets in Manhattan.
Joseph Hudson of CBRE represented Vashi in the transaction, while SL Green was represented in-house.
Vashi is a click-to-bricks success story. It started selling direct-to-consumer diamonds online in 2007 and created Vashi.com in 2013, growing over the next five years as more consumers have come around to the idea of buying engagement rings and necklaces online rather than in luxury showrooms.
Founded by Vashi Dominguez, it now has five locations in London, one in Manchester and is planning a US expansion .