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Parasuco Shutters, Giving Duane Reade Chance to Prove Sexiness

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Parasuco's sole American location on Spring Street and Lafayette in Soho quietly closed down recently, taking with it any and all New York City access to the brand's Ibiza-via-Canada club top and crazy denim aesthetic. We're curious about what shopping options—shoptions?—could possibly fill this void (um, other than Christian Audigier, Desigual, Custo Barcelona and Ed Hardy), but we're more interested in who might move into the landmark two-level space. Gilded, marble-clad and fully restored, it seems like the perfect home for some sort of high-end global brand flagship, so we became almost embarrassingly excited to see some light construction happening at the site earlier this week.

Well, turns out, it's just going to be another Duane Reade—a Duane Reade flagship, in fact. Don't get us wrong: With this development we might actually go in and enjoy the "30-foot ceilings, gilded moldings and a marble staircase" from time to time. But this isn't exactly the flagship we had in mind.

From Real Estate Weekly:

? The space at 60 Spring embodies the kind of attributes the company wants its stores to now exude. Formerly the headquarters of the East River Savings Bank, the lower section of the building that houses the retail space features an eye-catching three-story colonnade and limestone facade.
"It looks like Grand Central Terminal inside," the source said, describing the interior of the space as having nearly 30-foot ceilings, gilded moldings and a marble staircase leading to the basement of the dual level space. Duane Reade executives had been eager in pursuing the deal the person said and considered the location, even though it will be slightly smaller than a typical Duane Reade branch, to be perfect for a flagship Manhattan store.
"They're absolutely committed to shedding their old frumpy image and showing that they're the sexiest, hippest, greatest drug store around," the source said. "Yet they've always called themselves New York's drug store and this space is so iconically New York and classic downtown."
We mourn the loss of Parasuco but find some solace in Duane Reade's proposed sexiness.
· Duane Reade takes deal for Parasuco space [Real Estate Weekly]


60 Spring Street, New York, NY