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Searle Seals 10,000-SF Flatiron-District Deal

NEW YORK CITY-The upscale women's-apparel chain takes 10,000 sf of retail space in a Flatiron District duplex. The 10-plus year, $200-per-sf signing is Searle's seventh lease in Manhattan.

By Michael Gilliard | Updated on October 15, 2002

NEW YORK CITY-Upscale women’s-apparel chain Searle takes its seventh location in the city with a 10,000 sf lease in a Flatiron District duplex at 156 Fifth Ave. between 20th and 21st streets. The 10-plus year signing was brokered for both Searle and building owner Robert Haddad of HRC by Garrick-Aug Worldwide Ltd. vice chairman Faith Hope Consolo and managing director Joseph A. Aquino. Consolo tells GlobeSt.com rent was $200 per sf, a price commensurate with average rates in the district.

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.”

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