Real Estate
Home›Real Estate›Residential›Sephora to relocate Meatpacking District store to 401…
Sephora to relocate Meatpacking District store to 401 West 14th
The new 4,200-square-foot location is expected to open in the first quarter of 2027, with lease terms and asking rent not disclosed.
Beauty retailer Sephora has signed a deal to relocate its Meatpacking District store to 401 West 14th Street, moving one block north from 21-27 Ninth Avenue, Commercial Observer reports.
The new storefront will cover 4,200 square feet and is expected to open in the first quarter of 2027. Cushman & Wakefield represented the landlords, Taconic Partners and Nuveen Real Estate, while Retail by MONA negotiated for Sephora.
The ground-floor space is in a four-story building on the corner of Ninth Avenue that is largely leased by a flagship three-story Apple store. Commercial Observer notes that gross asking rates for Meatpacking District retail averaged $321 per square foot in the second quarter of this year, citing C&W data.
Commercial Observer adds that Taconic acquired the property for $34.6 million in 2005 and later repositioned it with renovations including a façade, windows, and updated HVAC systems. The Meatpacking retail submarket posted Manhattan’s second-strongest rent growth last quarter behind Third Avenue, with a 17.3 percent availability rate, the second-highest in the city after Herald Square.