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Deals & Dealmakers

Newmark Secures New Lease for Global Footwear Phenomenon Dolce Vita in SoHo

Newmark Retail announces that it has secured a new 3,165-square-foot lease for the New York City-founded, global footwear phenomenon Dolce Vita. The new outpost will open at 489 Broadway in the heart of Manhattan’s SoHo neighborhood. Newmark’s Vice Chairman  Ariel Schuster, Director Andrew Connolly and Associate Logan Ryan represented the landlord Sherr Equities on the transaction, while Executive Managing Director Ross Kaplan  and Associate William Chaplin represented Dolce Vita.

Two Manhattan-based shoemakers started Dolce Vita in 2001 and quickly made a name for themselves with their standout shoe designs. The brand is known for their trend-driven style featuring edgy embellishments, thoughtful details and archive-inspired vintage touches that make each silhouette unique.

“We continue to see a surge in demand for retail space in SoHo, specifically on Broadway,” said Schuster. “This transaction further illustrates that many brands seek out space in this highly trafficked corridor to establish their footprint and reach consumers.”

 

Dolce Vita secured a rare corner space comprising the ground floor and lower level at 489 Broadway on the corner of Broome Street. In addition to being primely positioned in the bustling SoHo shopping district, Dolce Vita’s newly secured storefront boasts 95 feet of wraparound frontage, further differentiating the space.

As evident by many recent retail transactions signed across the city, the demand for retail space in Manhattan continues to demonstrate steady growth in Q3. Further supporting this position, according to Newmark Research, select trade areas, including SoHo, continue to thrive post-pandemic while their availability rates continue to decline.

 

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