Lease terms were not disclosed; however, the asking price for the space was $50 per square foot. Grant Greenspan of the Kaufman Organization represented Coldwater Creek, which plans to use the space to house creative and design offices, while Fred Grand of 575 Broadway Associates LP represented the landlord.
In a release, Greenspan, a principal with the Kaufman Organization, says "we were happy that we could find Coldwater Creek a large enough space that could accommodate their needs. This iconic Soho building is not only in a great location but is a perfect fit for a fashion company."
Originally built for John Jacob Astor III on the site of his family's original estate, 575 Broadway was built in 1882. The six-story brick building in the Soho Cast Iron District was entered into the National Register of Historic Places in 1978.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
