Bromley Cos. complete two leases at 122 Fifth Ave.

New York, NY According to Bromley Companies, two new leases have been signed at 122 Fifth Ave., an 11-story, mixed-use project.

Parachute Home has signed on for a 10 year lease for 3,431 s/f at the ground floor level of 122 Fifth Ave. with an expected opening date of Spring 2023. This will be the retailer's third and largest flagship location in New York City, with one of its other stores located in Lower Manhattan as well as one in Williamsburg. Parachute Home was represented by Pierce Thompson and Jeremy Ezra of Newmark Retail.

Next door, Pandora, the popular Danish jeweler, has signed on for a 10 year lease for 2,500 s/f at the ground floor level of 122 Fifth Ave., and is expected to open before Thanksgiving of 2022. Pandora was represented by Robert Gibson, Davie Berke & Alexandra Sanoulis of JLL.

Alan Schmerzler, Sean Moran and Pat O’Rourke of Cushman & Wakefield represented Bromley for both transactions. 

“We’re incredibly pleased to welcome our two newest tenants to 122 Fifth Ave.,” said Peter Tong, senior vice president of Bromley Companies. “Despite industry changes, retailers have continued to bet big on brick-and-mortar locations, realizing the benefits of in-person interactions and direct, tangible access to products and services. The additions of Parachute Home and Pandora contribute to establishing a first class retail presence flanking our new office entrance to 122 5th.”

"The Flatiron/Union Square neighborhood has demonstrated its resilience and importance as one of Manhattan’s premier retail sub-markets," said Schmerzler. "Bringing these two tenants to 122 Fifth Ave. is not only great for the neighborhood, but New York City as a whole, serving as further proof of the strength of the recovery in Manhattan’s retail leasing sector.” 

"Retail leasing has been strong in the Flatiron/Union Square area with over 100 ground floor businesses opening in the area since the start of the pandemic," said Jennifer Falk, executive director, Union Square Partnership. "Pandora and Parachute Home are two more terrific additions to that list, along with Allbirds, which opened at 120-122 Fifth Avenue earlier this year. Pandora and Parachute Home's decision to take space in Flatiron/Union Square exemplifies the neighborhood's resilience and strong economic promise as it continues to be a hub where people gather to live, work and play."