Syms, the Paramus, NJ-headquartered off-price clothing retailer, has leased a 34,000 s/f retail space at 530 Fifth Ave., between 44th and 45th Sts. This will be Syms' new flagship and a joint store with Filene's Basement, which the company acquired in 2009. The store contains 6,500 s/f on the ground floor, 9,500 s/f on the lower level and 18,000 s/f on the second floor.
Winick Realty Group's Darrell Rubens, senior managing director and Lori Shabtai, exec. VP, represented the property on behalf of The Moinian Group, the owner.
"The space was originally designed for the Bank of New York and wasn't built for retail," said Rubens. "But we had a vision from day one of replacing the austere granite storefront with a floor-to-ceiling glass storefront more conducive to retailing." The pair also brought JP Morgan Chase to the building in April, returning the bank to the location it vacated in 2008 after merging with the Bank of New York.
With other tenants including Zara and H&M in close proximity, Rubens said that "Syms will be a great addition to Fifth Avenue."
Syms, which was represented by the Lansco Corporation, is one of a handful of high-profile fashion chains coming to Fifth Ave. Urban Outfitters just leased a new storefront across the street at 521 Fifth Ave., while Guess will be opening its new flagship store up the street at 575 Fifth Ave.
Winick Realty Group LLC recently placed a Bakers Footwear at nearby 509 Fifth Ave. and is currently marketing the Staples space across the street at 535 Fifth Ave., which includes 4,231 s/fon the ground and 12,310 s/f on the lower level.
Founded in 1982, Winick Realty Group LLC is one of New York's most prominent firms specializing in retail leasing and advisory services. Over the past 27 years, Winick Realty Group LLC has served a broad range of clients domestically as well as globally, with a strong emphasis on long term representation and expansion and growth strategies. Winick Realty Group LLC is recognized as a forerunner in the retail real estate market. Tags: