Conshohocken, Pa. David's Bridal is close to signing a 10-year lease for its first shop in Manhattan, according to a report in Crainâ€™s NY Business.
The retailer, which targets the middle market, is expected to take over 11,500 sq. ft. on the ground floor of a new building located at Sixth Avenue, between West 24th and West 25th streets. It will also have access to a small storage basement. Asking rent is about $175 per square foot.
The company, which operates more than 280 stores, already has shops in Queens, Westchester County and New Jersey. However, the chain has been looking for a Manhattan location for some time. The continued development and increased traffic flow along the Sixth Avenue corridor could benefit the retailers, especially as it competes against high-end players including Vera Wang and Kleinfelds.
Matthew Gorman and Josh Gettler of New Street Realty Advisors are representing the tenant. Ariel Schuster and Barry Fishbach of Robert K. Futterman & Associates are negotiating on behalf of the landlord.