Anthropologie’s lease at 250 Bowery is no longer in the cards, Bowery Boogie reported. The apparel retailer broke its contract to occupy the 10,000-square-foot ground floor space at the VE Equities-developed condominium building, meaning the space is back on the block for $1 million per year.
The company backed out of the deal because the landlords allegedly did not meet several performance dates following Hurricane Sandy storm damage. However, rumors circulated in recent months that Anthropologie was unhappy with 250 Bowery’s build-out, Bowery Boogie said.
The eight-story building launched sales in December, and in February a penthouse broke a price-per-square-foot record for the Bowery, as The Real Deal reported.
VE co-founders Zach Vella and Justin Ehrlich bought the property in 2010 for nearly $10 million. Bowery Boogie did not include comment from the duo. [Bowery Boogie] —Zachary Kussin