{"id":224077,"date":"2025-09-13T17:16:29","date_gmt":"2025-09-13T17:16:29","guid":{"rendered":"https:\/\/www.europesays.com\/us\/224077\/"},"modified":"2025-09-13T17:16:29","modified_gmt":"2025-09-13T17:16:29","slug":"abercrombie-and-lululemon-moving-to-new-digs-in-soho-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/224077\/","title":{"rendered":"Abercrombie and Lululemon Moving to New Digs in SoHo \u2013 Commercial Observer"},"content":{"rendered":"

Commercial Observer has learned that Abercrombie & Fitch<\/a><\/b> will be taking over the space currently occupied by Lululemon<\/a><\/b> at 520 Broadway <\/b>in SoHo, while the high-end yoga-focused retailer will expand into a larger space at 524 Broadway<\/b>. Both deals were signed in late 2024 but have gone unreported until now.<\/p>\n

According to a source familiar with the deals, Abercrombie & Fitch was represented by Erin Grace<\/b> and Hilary Sievers<\/b> at JLL<\/a><\/b> while Lululemon was represented by Jeremy Ezra<\/b> at Newmark<\/a><\/b>. The same source said that\u00a0 Steven Soutendijk<\/b> at Cushman & Wakefield<\/a><\/b> represented Northwood Investors<\/a><\/b>, which owns both buildings, on both leases.<\/p>\n

SEE ALSO: Alvarez & Marsal More Than Doubles Miami Office in 23K-SF Deal<\/a><\/p>\n

Abercrombie & Fitch will occupy about 16,000 square feet over 520 Broadway\u2019s lower three floors and its basement, and will take over the space\u00a0in mid-2026. Lululemon will occupy around 19,000 square feet at 524 Broadway over the ground and second floors, and will open in its new location in October.\u00a0\u00a0\u00a0<\/p>\n

The lease durations and asking rents were unavailable, but a Cushman & Wakefield retail report<\/a> for the second quarter of 2025 puts the average annual asking rent in SoHo at $388 per square foot, a 6.3 percent increase from the previous year.<\/p>\n

Just this week, Northwood secured a $230 million loan from Barings<\/a> <\/b>to refinance the two properties, according to reporting in Commercial Observer<\/a>. Both buildings are on or near the corner of Broadway and Spring Street.<\/p>\n

While public records refer to the 11-story buildings as two separate entities, a Northwood webpage for the buildings treats them as one, citing 520-524 Broadway as a 234,000-square-foot office and retail asset. Listed tenants include Balthazar<\/b>, Marc Jacobs<\/b>, WeWork<\/a><\/b> and Resy<\/b>.\u00a0\u00a0<\/p>\n

Northwood Investors acquired both buildings in 2021 from the Propp<\/b> family for $325 million, having secured $227 million in acquisition financing from Ares Commercial Real Estate<\/a><\/b> in June 2021 for the purchase in the form of a floating-rate loan, according to CO<\/a>.\u00a0\u00a0\u00a0<\/p>\n

Northwood Investors, Abercrombie & Fitch and Lululemon did not immediately respond to requests for comment.<\/p>\n

Larry Getlen can be reached at lgetlen@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Commercial Observer has learned that Abercrombie & Fitch will be taking over the space currently occupied by Lululemon…\n","protected":false},"author":3,"featured_media":224078,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[121500,121501,5229,121502,121503,121504,121505,7745,58579,405,403,5226,5225,5228,5227,121506,121507,6270,121508,67,586,132,5230,68,2969],"class_list":{"0":"post-224077","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-520-broadway","9":"tag-524-broadway","10":"tag-america","11":"tag-balthazar","12":"tag-erin-grace","13":"tag-hilary-sievers","14":"tag-jeremy-ezra","15":"tag-leases","16":"tag-marc-jacobs","17":"tag-new-york","18":"tag-new-york-city","19":"tag-newyork","20":"tag-newyorkcity","21":"tag-ny","22":"tag-nyc","23":"tag-propp","24":"tag-resy","25":"tag-retail","26":"tag-steven-soutendijk-channel","27":"tag-united-states","28":"tag-united-states-of-america","29":"tag-unitedstates","30":"tag-unitedstatesofamerica","31":"tag-us","32":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115198124635232482","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/224077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=224077"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/224077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/224078"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=224077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=224077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=224077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}