After the area's retail slump a decade ago, Consolo says the Flatiron District is finally on the rebound. "This area is fast returning to its former identity as an exciting shopping destination as it was 100 years ago," she says. Some of Searle's retail neighbors here will be Eileen Fisher, Ann Taylor, Club Monaco, The Gap, Kenneth Cole and Coach. "During the search, Searle's looked in both SoHo and NoHo and decided on this space for its proximity to other prominent retailers, including the Armani A/X which will open across the street soon."

HRC has owned the building for 30 years. "The Haddad's own a great deal of property in the city," says Consolo. "They're a very prominent family." The building's previous tenant was Australian clothing retailer Country Road.

Searle has had a presence in New York City for over forty years. GlobeSt.com coverage of their previous signings can be found here and here.