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Deals & Dealmakers

Peachy Signs 10-Year Lease for 3,000-Square-Foot Studio at 120 Broadway

Silverstein Properties, one of New York City’s leading real estate development and management companies, today announced that the AI-driven preventive skincare startup Peachy will open its first location in the Financial District with a 10-year, 3,043-square-foot lease on the ground floor of downtown Manhattan commercial office landmark 120 Broadway. The science-based skincare brand is slated to occupy the space in spring 2023.

Peachy’s entry into the Financial District marks the company’s latest move to deliver premium, approachable wrinkle care to more New Yorkers. The company opened its first studio in West SoHo in 2020. Peachy’s newest location at the corner of Nassau and Cedar Streets will be its sixth studio across Manhattan and Brooklyn in addition to studios in Williamsburg, Manhattan West, NoMad, and Brooklyn Heights.

“We’re thrilled to welcome Peachy to 120 Broadway, providing a wellness-forward retail experience for residents of the neighborhood,” said Joseph Artusa, Senior Vice President of Leasing at Silverstein Properties. “Lower Manhattan is a dynamic hub enlivened by an ever-growing assortment of restaurants, shopping, and entertainment options. Peachy’s move reflects a broader shift toward more residential use and younger, technology-driven companies choosing to put down roots here. They are exactly the kind of tenant we seek to attract to our retail spaces, as Downtown continues to evolve from a law and finance hub into a thriving live-work neighborhood.”

Peachy’s fresh approach to preventive science-based skincare offers all the benefits of clinical care in an approachable environment that departs from the sterility of a traditional doctor’s office. Its skincare concept is grounded in a science-based, clinical methodology, and its services include a preventative blend of botox, prescription retinoids, and daily-use sunscreen for every face and skin type.

“After two years of steady growth across New York City we look forward to bringing our clinically-focused approach to preventive skincare to Lower Manhattan,” said Eric Zhang, co-founder of Peachy. “We believe everyone deserves a luxurious and stress-free environment for their skincare journeys, and our new studio in one of the neighborhood’s historic architectural gems, just steps from two major transit hubs and lots of foot traffic, will provide just that for people who live, work, and play in the Financial District.”

With soaring vaulted ceilings, gold leaf accents, marble floors, and hand-carved architectural detail, 120 Broadway has been an icon of classic style for over a century. Located in the heart of Lower Manhattan, the classic Beaux Arts building is widely considered Downtown’s original symbol of power and stature. Silverstein Properties has completed a series of major capital improvements that have updated and amenitized 120 Broadway from ground floor to rooftop, restoring it back to its original beauty while creating a superior experience for tenants.

Located steps from two major transit hubs, The Oculus and Fulton Center, 120 Broadway spans a full city block in the heart of Downtown’s vibrant and energized Financial District. The building bridges the gap between FiDi’s various traffic generators and tourist attractions including the World Trade Center, Brookfield Place, Battery Park, and the Seaport District, and is centrally positioned for visibility and foot traffic with excellent access to nearby and in-building transit.

Gary Alterman and Richard Gelber of Newmark represented the landlord in the deal. Jesse Wolff of JLL represented Peachy.

For more information on 120 Broadway and to inquire about leasing opportunities, please visit www.120Broadway.com

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