The North Face is making plans to open a new flagship store in New York City and its largest store in the city to date. The company signed an eight-year sublease from Joe Fresh for roughly 20,000 square feet at Vornado Realty Trust’s 510 Fifth Avenue at West 43rd Street in Midtown, according to reports.
The store would occupy the full retail component at the landmarked, five-story Manufacturers Trust Company Building. The retail space includes 5,000 square feet on the ground floor, 9,500 square feet on the second floor, and nearly 5,000 on the lower level. Asking rent on the ground floor of the 65,000-square-foot building is about $800 per square foot.
In terms of size, The North Face’s two other stores in the city both pale in comparison. The company occupies 8,000 square feet at the Ansonia 2101 Broadway on the Upper West Side and 4,200 square feet at 139 Wooster Street in Soho.
TNF also is reportedly looking at additional space in Soho. It recently checked out a nearly 15,000-square-foot space at C&K Properties’ 519 Broadway that was formerly occupied by outerwear chain Quiksilver. No lease has been signed at that address.