Thor Equities has secured a lease for Intersect by Lexus, a unique boutique concept, at 412 West 14th Street in the Meatpacking District, company executives announced.
The CBRE team of David LaPierre, Stephen Sjurset, Sean Moran and Cassie Durand represented Lexus, which will occupy the ground, second and third floors at 412 W. 14th Street.
“Lexus is excited about creating a space that is far more than a car showroom,” said LaPierre. “When completed, their new location in Meatpacking will be a confluence of design, in-person social networking, art and design, which will fit in perfectly with one of New York’s most fashionable and creative neighborhoods.”
Thor Equities, the landlord, represented itself in the transaction. The asking rent was $4 million a year.
Neither a traditional dealership, nor a retail store, Intersect by Lexus is a transformational space where guests are able to engage with Lexus through design, art, fashion, culture, film, dining, music and technology.
Designed by Masamichi Katayama, the interior designer and founder of Wonderwall, the very first Intersect by Lexus opened in Tokyo last summer.
“The Meatpacking District’s cutting-edge aura has long attracted tech giants and fashion icons, and now will be home to Lexus’s futuristic luxury concept space which will offer a state-of-the-art experience,” said Melissa Gliatta, EVP of Thor Equities. “West 14th Street is the epicenter of culture, dining and fashion and is the perfect corridor for the world-renowned Lexus brand.”
Intersect by Lexus seeks to create an inspiring space where people can experience the luxury of Lexus through activities, events, food and culture, without getting behind the wheel of a vehicle. There are also plans to open a third space in Dubai.
412 West 14th Street, located on the south side between Ninth Avenue and Washington Street, features 49 feet of frontage and 22,000 s/f including a 5,500 s/f rooftop.
Intersect by Lexus’ will create a multi-level, experiential concept in the space which was previously used by a production company.