The 30-foot, French Renaissance-style property at 14 E. 69th St. between Fifth and Madison avenues traded hands just days before a potential foreclosure.
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143 Spring Street’s new sublease could be a sign that retail subleasing may become more popular. (Google Maps)
Like many of the city’s major retail districts, Soho has been hit hard by the pandemic, with foot traffic falling and landlords taking a hit on rents. But there are some signs of life in the neighborhood, with new leases being signed in recent weeks.
Notably, women’s clothing store Pinko inked a deal to take over a former Bed, Bath & Beyond at 143 Spring Street, the Wall Street Journal reported. The Italian brand will sublease the 4,925-square-foot retail space a sign that retail subleasing may become more popular in the coming months, as stores sit empty.