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French retailer A.P.C. has adjusted the opening date of their fourth Manhattan location from March—which is, obviously, over—to the end of July, Crain's reports. The store at 49 Bond Street will be composed of 1,500 square feet of selling space, and a 750 square foot basement that will be used solely for storage.
Previously, company owner Jean Touitou told WWD that he is also looking at locations in Tribeca, the Upper East Side, and Brooklyn. Regarding the decision to open first on Bond Street—between Lafayette and the rapidly growing retail of the Bowery—the brand says they liked the neighborhood, plus it's a good distance from their Soho outpost on Mercer Street. After the jump, an interesting parallel between the Bowery and Soho.
One broker described Bond Street as the new Prince Street, with Bowery acting as the new Broadway, writes Crain's. Rents on Bond Street are estimated around $100 a square foot, while those on Bowery are running between $250 and $300 per square foot—about a quarter of what it's costing to set up shop in Soho these days.
Update: Crain's has amended their article to indicate that the lower level will be used solely for storage, and that the correct square footage of the retail portion of the store is 1,500 square feet.
· French Fashion Outlet Bonds with Bowery Area [Crain's]
· Prada Will Stay in Soho, Agreeing to Record Breaking Rent [Racked NY]
· A.P.C. is Plotting Four New Stores in Manhattan and Brooklyn [Racked NY]