Saint Laurent, expanding its New York City presence, has signed a lease to open a 13,000-square-foot flagship store at 70-74 Gansevoort Street in Manhattan’s Meatpacking District, according to real estate sources involved in the deal.
“This will be one of the brand’s creative director Anthony Vaccarello’s first designed stores in the world,” Jared Epstein, principal at Aurora Capital Associates, told WWD via an email exchange. Aurora and William Gottlieb Real Estate own the building Saint Laurent is moving into.
According to Epstein, the Paris-based Saint Laurent will occupy the ground, lower and second floors. He also said the Saint Laurent flagship is expected to open either in the second quarter or the third quarter of 2024.
Saint Laurent did not respond to a WWD request for comment on the store Tuesday.
Saint Laurent will be a major addition to Gansevoort Row, the fashionable, award-winning mixed-use project situated in the heart of the Meatpacking District. Gansevoort Row, which consists of 10 buildings, was redeveloped by the Aurora and William Gottlieb firms, who have been among the most active landlords in the neighborhood.
Gansevoort Row encompasses approximately 110,000 square feet of new and renovated commercial and retail space. According to its website, “The old meatpacking buildings have been beautifully preserved and extended by BKSK Architects, as a fusion of historic prewar structures with new construction and a luxurious modern twist.” The project’s tenants include Hermès and Brunello Cucinelli stores and Keith McNally’s Pastis restaurant.
The Meatpacking District has had its fair share of fashion openings and closings over the years, but more recently has seen an influx of luxury retailers such as Loro Piana, Rolex and Gucci. According to Epstein, brands and retailers are opting for spaces in the Meatpacking District because they are often larger than those offered in SoHo.
Jake Bank and Jared Epstein represented Aurora in the Saint Laurent deal. Mike Oniel of C&W represented YSL.
According to Epstein, asking rents on the block where Saint Laurent will be range from $500 to $700 per square foot. Rents throughout the Meatpacking District range from $150 to $750 a square foot, with Ninth Avenue south of 14th Street and the south side of Gansevoort Street (known as Gansevoort Row) “garnering the most interest and commanding the highest rents,” Epstein observed.
In New York City, Saint Laurent operates stores at 3 East 57th Street and on Greene Street in SoHo. Saint Laurent is part of French luxury conglomerate Kering which also owns Gucci, Balenciaga, Bottega Veneta, Creed, Puma and Alexander McQueen.