Manhattan, NY Topdrawer, a Japanese/American company inked a deal for a 1,097 s/f store at KPG’s 155 Spring St.
RIPCO Real Estate’s Richard Skulnik represented KPG in the deal. Compass’s Rebecca Olshan represented the tenant.
The chain, which has locations in Boston, San Francisco, Chicago and Los Angeles, plans to move into the space in early December. The asking rent for the 1,097 s/f was $400 per s/f for the 15-year deal.
“We are thrilled to have Topdrawer open their first location in Manhattan at KPG’s 155 Spring,” said KPG’s CEO Greg Kraut. “SOHO foot traffic has now surpassed pre-COVID levels, and Topdrawer seized the opportunity to join an unbelievably curated group of retail tenants at 155 Spring St. We have established an exceptionally high-quality asset on Spring St. in Soho, so it was a perfect fit for Topdrawer’s first location.”
Our goal with Topdrawer is to combine the quality and craftsmanship of our grandparents’ generation with our drive for independence, function and stylish sustainability,” said Topdrawer’s President Peter Dunn. “It all results in a collection of tools curated from around the world that help you do your best work wherever you are.”
“KPG tasked the leasing team with finding unique and creative retail users,” said Skulnik. “We were able to secure Topdrawer for its vast and unique product offerings. The retail store is its own experience. We expect the shopper in SOHO to quickly adopt the store as a favorite.”
KPG purchased the building earlier this year and has brought it up to 100% occupancy.
The approximately 60,000 s/f property, first constructed in 1910, is also home to other top retailers such as APM Monaco, Modere, Vera Bradley and Park West Gallery.
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