Colliers International and Winick Realty Group Import London-Based Savoir Beds to Upper East Side
MWest Holdings, a privately-held real estate investment firm, has signed a long-term lease with Savoir Beds for 3,295 square feet of retail at 223 East 59th Street. The new lease encompasses 1,665 square feet on the ground floor and 1,630 square feet in the mezzanine. This will be Savoir’s first company-owned store in New York, scheduled to open this fall.
Widely regarded as the world’s most luxurious sleeping system, the London-based company has served luminaries as diverse as Sir Winston Churchill, Giacomo Puccini and Marilyn Monroe for more than 100 years. First created for The Savoy Hotel in London in 1905, their tailor-made beds can be made to any size or shape, stand alone or sport a bespoke headboard, be beautifully upholstered or made to fit into an existing frame.
Savoir Beds, which has an additional location in SoHo, is expected to open their Midtown store by early winter 2015. With 25 feet of all-glass frontage, the brand is poised to attract customers from the Decoration & Design Building across the street and nearby Bloomingdale’s.
“Savoir Beds is one of the most recognizable and respected luxury bed makers in the world,” said Peter Simel, a Managing Director with Colliers International, who along with Tri-State Vice Chairman James Emden, and Associate Timothy Pond arranged the lease on behalf of the tenant. “They are a wonderful, international brand opening their first company-owned store in New York City, in a well-located MWest building in a prime neighborhood.”
Winick Realty Group President Steven E. Baker, Charles Rapuano and Jeremy Wintner represented landlord MWest Holdings LLC. in the lease transaction. Savoir Beds is the latest in a string of high-profile, luxury tenants to lease space in the area, joining The Rug Company and The Shade Store on the block. With this new lease, Rapuano noted that he is seeing more interest from landlords looking to upgrade their tenancy as leases come to term.
“Brands like Savoir Beds are ushering in a sea change in the neighborhood,” said Rapuano. “MWest Holdings believes they will be a great addition to the neighborhood and has no doubt that they will be successful in the space for a long time.”
The four-story property at 223 East 59th Street is located between 2nd and 3rd Avenues in the heart of the busy Lenox Hill residential and shopping corridor. The building sits in close proximity to multiple transportation options, including the 6 subway line, multiple bus routes, and the FDR Drive.
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Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services. Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies. Winick Realty Group is highly recognized as a forerunner in the retail real estate market.