295 Lafayette Street
Perhaps Puck could have made even more mischief with a climbing harness and some crampons. Now one of the country’s largest outdoor equipment retailers will open in the Soho building that bears his name.
Recreational Equipment Inc. has signed a 39,000-square-foot lease for three floors in 295 Lafayette Street, at the corner of East Houston and Soho. It will be the first time in over 100 years that a retailer will rustle the Puck Building’s slumber. It has, however, been the home of two edgy magazines, Puck and Spy, and is currently used as an event space.
“REI is delighted to find such a wonderful location to serve our thousands of Manhattan customers who have been shopping with us for years,” REI CEO Sally Jewell said in a statement.
The outdoor climbing options in the city may be limited to say the least, but Ms. Jewell seems confident there are plenty of urbanites “eager to enjoy the great outdoors from bike paths and urban greenways to wild and scenic destinations around the world.”
REI, which is organized as a members’ cooperative, did a brisk $1.46 billion in sales last year, and the store is expected to add 100 new jobs to the community.
The term of the lease was not disclosed. The asking rent was $275 per square foot, according to Crain’s.
Susan Kurland, of CB Richard Ellis, represented the tenant. Landlord Kushner Companies was represented by Lori Shabtai of Winick Realty, along with Ira Bloom in-house. (Jared Kushner, a principal at Kushner Companies, is publisher of The Commercial Observer.)