Japanese fashion designer Issey Miyake has signed a lease for a Tribeca showroom.
The iconic designer has been looking for a unique space that could be utilized for a showroom and office, according to brokers.
He inked a deal for 4,000 s/f at 31 North Moore Street, around the corner from his flagship store at 119 Hudson Street, which the brand will continue to occupy as its main retail flagship.
“The Tribeca market continues to attract high caliber fashion brands that are no longer interested in paying higher asking rents in nearby markets, like SoHo and the MeatPacking District,” said Yanni Marmarou of The Collective, who represented the landlord in the deal.
“The high concentration of affluent residents in the market and the lower rents levels make the area more appealing to various destination brands, who are not swayed away by the absence of heavy foot traffic.”
The North Moore Street space includes 3,226 s/f of ground floor space as well as an 831 s/f lower level. Asking rents were $125/sf ($403,250 per annum) . Raba Belkadi of DJK Residential represented the tenant in the lease negotiations.
The previous tenant, Arte et Maison, occupied the space for over eight years before recently vacating. Nearby tenants include Otte, the Brandy Libary, Bubby’s and the first ever Nexxus Salon, which are all located on the same block on North Moore Street.