Propp of Tahl Propp Equities acts for ownership in 15,000 s/f lease; Dana and Kramer of Dana Commercial act for Michael Kors

Rodney Propp, chairman of Tahl Propp Equities, has leased a 15,000 s/f space to Michael Kors at 520 Broadway, between Spring and Broome Sts. The three-level store will serve as the brand's new SoHo flagship. Construction will begin this summer. "This is a transaction that reflects the continuing preeminence of Broadway fronting retail in SoHo," said Propp. "Shame on any global brand without a presence on this strip." Propp represented the ownership, a Propp Family partnership. The tenant was represented by Gary Dana and Adam Kramer of the Dana Commercial Group at Douglas Elliman Real Estate. The current tenant at 520 Broadway, the Club Monaco division of the Ralph Lauren Corp., will vacate in June.