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The rumors were true: Restoration Hardware is officially moving into the old Pastis building at 9-19 Ninth Avenue. The Wall Street Journal reports that the store has signed a $250 million, 15-year lease to take over the Meatpacking District building.
The renovations will add about 70,000 square feet of space and three stories to the (formerly two-story) building, including that massive, metal and glass topper that the Landmarks Preservation Commission finally approved this summer. The aggressive expansion makes us think that Restoration Hardware is looking beyond retail—it's been rumored that the home goods brand will open a hotel, "RH Guesthouse," in 2016. And, to add another layer of mystery to this whole 9-19 Ninth Avenue takeover, back in February Pastis owner Keith McNally said the restaurant wasn't dunzo—just on hiatus. So it's possible that Restoration Hardware plans to keep Pastis's space intact while they gut the remainder of the address.
No word on when construction will be completed, or what the inside of the building will look like, but there will reportedly be a "large outdoor space" on the fifth floor and a wraparound terrace on the third. That totally sounds like there's enough room for a hotel-and-restaurant complex, right?
· New Entry in Meatpacking District [WSJ]
· Is Restoration Hardware Taking Over Pastis? [Racked NY]
· The Pastis Building's Revised Topper Finally Woos Landmarks [Curbed NY]