Warby Parker, the eyewear brand recognized for revolutionizing the industry with its direct-to-consumer online model and affordable prescription glasses, has reaffirmed its commitment to New York City’s SoHo neighborhood. The company has signed an eight-year lease renewal for its retail space located at 121 Greene Street, nestled at the base of a residential condominium building between Houston and Prince streets. This announcement comes directly from a representative of landlord SL Green Realty, a prominent real estate investment trust. The financial details of the renewal were not disclosed, however, SL Green indicated an investment in refreshing the space as part of the agreement.
Brett Herschenfeld of SL Green emphasized SoHo’s robust retail environment in a statement regarding the renewal. “SoHo stands out as New York City’s premier retail destination, seamlessly blending residential living, professional workspaces, and cultural experiences,” Herschenfeld stated. He further highlighted the significance of Warby Parker’s continued tenancy as a testament to the area’s enduring appeal and economic vitality, noting, “Warby Parker’s long-term renewal, as a tenant with over a decade of presence in the neighborhood, truly underscores SoHo’s strong brand identity and sustained commercial success.” This renewal signals confidence in SoHo’s retail market, especially after the area’s strong rebound from pandemic-related challenges.
Warby Parker’s location at 121 Greene Street holds particular significance as it marked the brand’s first foray into permanent brick-and-mortar retail in 2012. From this foundational SoHo store, Warby Parker has significantly expanded its physical footprint, now operating over 170 locations across the United States. This growth underscores the brand’s successful omnichannel strategy, combining its online roots with strategic retail locations.
The building at 121 Greene Street is also home to other high-end retailers, including the fashion house Proenza Schouler, further solidifying the block’s luxury retail profile. The vicinity boasts a collection of upscale brands, with a Ralph Lauren store situated at the southern corner of Prince and Greene streets and a flagship Apple store directly opposite, contributing to the area’s prestigious shopping atmosphere.
Looking ahead, SL Green has announced plans to sell the 7,131-square-foot retail condominium unit at 121 Greene Street. CBRE, with a team spearheaded by Daniel Kaplan, has been engaged to market the property. While SL Green has not publicly specified an asking price for the ground and lower level retail space, this sale presents a unique opportunity for investors to acquire a prime retail asset in one of New York City’s most sought-after shopping districts, tenanted by a strong, established brand like Warby Parker.
Matthew Seigel of Lantern represented Warby Parker in the lease renewal negotiations, while SL Green managed the deal internally. Neither party has provided further comments beyond the initial announcements. This lease renewal at 121 Greene Street not only secures Warby Parker’s continued presence in SoHo but also reinforces the neighborhood’s position as a leading destination for retail and luxury brands in New York City.
