Papyrus to open Tribeca store
SCG Retail announced the signing of a 1,000 s/f lease for Papyrus at 149 Reade Street between Hudson and Greenwich Street in Tribeca.
The lease was signed in mid-June and Papyrus hopes to open by the end of the summer.
According to Jacqueline Klinger, lead broker for SCG Retail, who represented Papyrus, “Tribeca was a challenge because the rents have risen a lot over the past few years and because most of the buildings are older, the spaces are much larger than Papyrus needed. 149 Reade Street was the perfect size, in great condition, and at a rent that made sense.”
Based in the Bay Area, Papyrus now has over 450 stores and operates several brands including Papyrus, NIQUEA.D, Carlton Cards Retail and American Greetings Retail. This marks Papyrus’s 19th NYC store.
The site was previously a Petticoat Lane. The area also includes a Whole Foods, Sweetgreen, and Christina Lehr.
149 Reade is owned by Ascot Properties NYC, LLC and was represented by Josh Siegelman of Winick Realty. Taryn Brandes of SCG Retail also represented the tenant.
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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.