Japanese streetwear shop BAPE (A Bathing Ape) has inked a lease to occupy all of 163 Mercer Street in Soho. Already a neighborhood tenant, the company wanted a larger space, which its new home offers. 163 Mercer has 2,200 s/f of ground space, a 1,800 s/f second floor and an 800 s/f basement.
The building’s landlord is Eng Tay, represented by Steve Rappaport and Margie Sarway–Sinvin Real Estate. Tenant broker was Gabriel Paisner, Odyssey Retail Advisors
Asking rent at the building was $780,000 year and the lease began on January 15 with a projected opening set for this summer. “This remarkable location, offering a unique single building identity, with garage doors, in the heart of Soho, attracted wide attention,” said Rappaport.
“Built in 1867, it was once wagon house. For many years it served as the flagship for Marc Jacobs. We felt that BAPE, a long term Soho tenant, seeking to increase their footprint, would be an exciting addition to Mercer Street.”