Lululemon Doubles Flagship Space in NYC

The luxury sportswear retailer took up 20,000 square feet of retail space in United Overseas Bank’s 592 Fifth Ave., which is currently undergoing a facelift.
592 Fifth Ave.

United Overseas Bank has welcomed Lululemon to 592 Fifth Ave.’s tenant roster. The luxury athleisure retailer will occupy 20,000 square feet on the boutique building’s ground floor, doubling its flagship footprint and relocating from the adjacent Scribner Building.

The 70,000-square-foot, 10-story office property was completed in 1911 and was formerly known as Black, Starr & Frost Building. Current ongoing renovations will result in a new facade. Additionally, the asset offers four full-floor office vacancies of approximately 8,000 square feet each. According to Yardi Matrix, other notable tenants include United Overseas Bank, Piranesi, Firestar Diamond and Emby International.

CBRE’s Michael Kadosh and Lon Rubackin represented the landlord in the transaction. RKFs Jeremy Ezra acted on behalf of the tenant.

Lululemon’s lease for a new, multi-level flagship store at 592 Fifth Ave. is a testament to how important of a role brick-and-mortar is to the overall success of retailers today. The high-end brand is also a perfect complement to the building and to the revamped retail space,” Kadosh said in a prepared statement.

Image courtesy of Yardi Matrix