Morganstern of Hofheimer Gartlir & Gross negotiates 2,100 s/f in SoHo

TSE has signed a 10-year lease with a five year renewal option for a 2,100 s/f retail store at 120 Wooster St. in Soho, according to Gerald Morganstern of the law firm Hofheimer Gartlir & Gross who negotiated the transaction on behalf of building owner, 120 Wooster LLC. Daniel Lewis of Epstein Becker & Green (EB&G) served as attorney for TSE. Laura Pomerantz and Betty Ende of PBS Realty Advisors were the tenant brokers. The new Soho TSE store is expected to celebrate its official opening in February, 2008. The new location replaces the former TSE store at 827 Madison Ave. which was open between 1994 and 2006. TSE operates its headquarters office and showroom space at 450 West 15th St. to which retail customers are currently referred. Asking rent for the Soho space is approximately $500,000 annually or about $238 a s/f, according to Morganstern. TSE will also have possession of the basement which is not included in the square footage. According to Morganstern, the signing of the lease was contingent on the relocation of the antiques dealer and landmark regulations on signage and interior alterations were another issue that had to be resolved. The Soho store concept is being designed by the architecture firm Janson Goldstein and will be a complete departure from the former Madison Ave. location, according to Alyson Day TSE's vice president of marketing.