The renowned British luxury fashion house JW Anderson has leased a 4,500 square foot space at 138 Wooster Street in Manhattan's SoHo district. This marks the opening of the brand's first standalone US store. The news was learned from Commercial Observer. JW Anderson was founded in 2008 by Jonathan Anderson, who was recently appointed Creative Director of Dior and is a two-time winner of the British Fashion Awards Designer of the Year.
The influential fashion label thus secures a presence in a coveted part of SoHo, at a time when high-quality retail spaces in this district are becoming increasingly scarce. The leased area is distributed across 3,000 square feet on the ground floor and 1,500 square feet in the basement. The asking rent for the ground floor space was approximately $300 per square foot, according to a source.
The Property and Parties Involved
The distinctive loft-style property, located between Prince and West Houston Streets, is owned by Aurora Capital Associates. For the long-term lease, JW Anderson was represented by Jonathan Schley from Newmark's New York office, as well as Gabriel Staab and Pierce Thompson from Newmark's New York office. Newmark declined to comment. Aurora Capital Associates was represented in-house by Jake Bank and Jared Epstein. Jake Bank, Director of Leasing and Acquisitions at Aurora, expressed his honour to welcome designer Jonathan Anderson and his eponymous brand JW Anderson to Aurora's portfolio.
The five-storey loft building was constructed in 1920 and features high ceilings, large window fronts, and cast-iron architecture. Aurora acquired the building in 2015 for $5.25 million and undertook extensive renovations. According to Loopnet, office space on the third floor is currently available at an asking rent of $66 per square foot.
Artistic Vision of the Label
Jonathan Anderson is known for creating provocative silhouettes, characterised by a deliberate blend of menswear and womenswear elements and a playful aesthetic. The label has received numerous design awards for its men's and women's collections. JW Anderson already operates stores in London, Paris, Milan, and Tokyo.
