Syms Leases 530 5th Ave Retail Space
Syms, the Paramus, NJ-headquartered off-price clothing retailer with locations in 12 states, has leased a 34,000-square-foot retail space at 530 Fifth Avenue, between 44th and 45th Streets in Manhattan.
This will by Syms’ new flagship location and a joint store with Filene’s Basement, which the company acquired in 2009. The store contains 6,500 square feet on the ground floor, 9,500 square feet on the lower level and 18,000 square feet on the second floor.
Winick Realty Group LLC’s Darrell Rubens, senior managing director and Lor Shabtai, executive vice president, represented the property on behalf of The Moinian Group, which owns the building.“The space was originally designed for the Bank of New York and wasn’t built for retail,” explained 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 added 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 Avenue.
Urban Outfitters just leased a new storefront across the street at 521 Fifth Avenue, while Guess will be opening its new flagship store up the street at 575 Fifth Avenue. Winick Realty Group LLC recently placed a Bakers Footwear at nearby 509 Fifth Avenue and is currently marketing the Staples space across the street at 535 Fifth Avenue.
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rew_092910_syms leases 530 5th ave retail space