Italian fashion brand Pinko, known for its prêt-à-porter collections for independent, bold and stylish women, has signed a lease for a three-level retail building at 143 Spring Street in Soho. Formerly home to Bed Bath & Beyond, the 4,925-square-foot location will serve as the brand’s U.S. flagship.
In addition to the newly leased Soho location, the brand operates five stores in the U.S., including at Bloomingdale’s in Manhattan, Atlanta, Georgia and Miami, Florida; and boutiques at the Aventura Mall and at Bal Harbour Shops, both also in Miami.
“New York City is the most desired retail market for high-end international fashion brands and we are delighted to soon open our new flagship location in SoHo. Pinko plans to expand its network of stores in the United States from the current six to 10 in the next three years, focusing mainly on the top 10 largest urban markets. Our new Manhattan store launches our American expansion plans,” said Pinko Chairman and CEO Pietro Negra.
“Pinko’s sublease for the 4,925-square foot former Bed Bath & Beyond space in SoHo represents the turning point in the upscale retail real estate market in New York City, which was severely impacted by the pandemic,” said Alex Carini, president and founder of Carini Group, a high-end commercial and residential real estate brokerage focused on serving leading European brands in the U.S., which represented Pinko.
According to Carini, the yearlong sublease agreement calls for a $30,000 monthly rent or 15% percent of sales value, whichever is greater.
Pinko has retained interior designer and project manager Deborah Mariotti of Brooklyn-based Mariotti Studio to assist its in-house designers, manage the project and develop the lighting design for the new store.
“The interiors will feature open-plan sales floors, with areas of interest indicated by brightly colored lilac and fuchsia carpets, with seating in similar colors, and movable brass display fixtures and hanger racks throughout the space” explained Mariotti. “New elements will include track lighting by Flos above merchandise display sections. To add playfulness and movement, the store will feature an inflatable ‘air dancer’ figurine in colors complementing the interior design elements.”
Alex Carini and Cristina Roccisano of Carini Group served as the sublessee’s brokers for Pinko. The sublessor was OKL Holdings, owned and operated by Bed Bath & Beyond. The property owner is Buchbinder & Warren.
