Eyewear disruptor Warby Parker has reaffirmed its commitment to SoHo, New York City, by signing an eight-year lease renewal for its retail space located on Greene Street. The store, situated at 121 Greene Street, marks a significant location for the brand as its first-ever permanent retail outlet. This renewal underscores Warby Parker’s continued success in the competitive eyewear market and the enduring appeal of SoHo as a prime retail destination.
Located in a residential condominium building between Houston and Prince streets, the Warby Parker Greene Street store benefits from SoHo’s vibrant mix of residential, commercial, and cultural elements. Landlord SL Green Realty, a major player in New York City real estate, confirmed the renewal, highlighting the deal includes contributions from SL Green to refresh the space. While specific asking rents were not disclosed, the agreement signifies the strong value both Warby Parker and SL Green place on this SoHo location.
Brett Herschenfeld of SL Green emphasized SoHo’s robust retail environment, stating, “SoHo is the hottest retail market in New York City with its mix of live, work and cultural attractions. There is no better evidence than the long-term renewal with Warby Parker, a tenant who has been in the neighborhood for over 10 years and has a true understanding of SoHo’s branding and economic success.” This statement reflects the area’s resilience and recovery following pandemic-related challenges that initially impacted SoHo’s luxury retail landscape.
Warby Parker’s Greene Street store opened its doors in 2012, becoming the brand’s first physical retail presence after initially gaining popularity as an online retailer offering affordable prescription eyeglasses. This move into brick-and-mortar retail in SoHo proved successful, contributing to Warby Parker’s impressive growth to over 170 stores across the United States. The SoHo store not only provided a physical touchpoint for customers but also solidified Warby Parker’s brand identity in a key high-street location.
The retail condo at 121 Greene Street is part of a six-story residential building that also houses luxury retailers like Proenza Schouler. Its neighbors include other high-end brands such as Ralph Lauren and Apple, further cementing Greene Street’s status as a luxury shopping corridor. SL Green has announced plans to sell the 7,131-square-foot retail condo unit and has engaged a CBRE team, led by Daniel Kaplan, to market the property. The anticipated sale price has not been disclosed, but the Warby Parker lease renewal undoubtedly enhances the property’s investment appeal.
Matthew Seigel of Lantern represented Warby Parker in the lease renewal negotiations, while SL Green managed the deal internally. This renewal marks another chapter in Warby Parker’s SoHo story and reinforces the enduring strength of Greene Street as a premier retail destination in New York City. The continued presence of Warby Parker at 121 Greene Street is a testament to the location’s strategic importance for retail brands seeking to connect with discerning customers in a dynamic and affluent neighborhood.
