Dolce & Gabbana has bagged a third Manhattan location, at 155 Mercer Street in Soho.
The Italian luxury fashion house already has stores on Madison and Fifth Avenues, and will occupy all four floors of its new space, 15,000-square-foot former firehouse owned by Joseph Sitt’s Thor Equities. The rents were not disclosed, but ground-floor rates in the Soho neighborhood have been estimated at up to $800 per square foot, the Wall Street Journal reported.
Sitt, who owns 30 properties in the neighborhood, told the newspaper that he has been vying to create ultra-luxury shopping corridors on Mercer, Wooster and Greene streets, with less exclusive retailers on Broadway and Prince and Spring streets.
Alongside Dolce & Gabbana on Mercer are luxury retailers Tory Burch, Balenciaga and Versace.
“Our vision was to create an outdoor urban shopping environment as opposed to a mall in Soho, to be a southern outpost to be able to serve people from Wall Street all the way up to Midtown,” Sitt said. [WSJ] — Tess Hofmann