Newmark Signs 8,000-Square-Foot Retail Flagship for Alexandre Birman’s Notable Footwear Brand, Schutz

May 30, 2023 9:00 AM

Newmark announces it has arranged a new 8,000-square-foot flagship retail outpost on behalf of ownership Broadway Continental Group at their 540 Broadway property in the heart of Manhattan’s SoHo neighborhood. The tenant, notable footwear retailer Schutz signed a long-term lease to the space, encompassing 4,500 square feet on the ground floor and 3,500 square feet on the lower level. Newmark Vice Chairman Ariel Schuster and Director Andrew Connolly represented ownership on the lease transaction.

“This transaction, like many others, is indicative of the continued growth and momentum of SoHo’s retail landscape in the post-pandemic environment–something we are most pleased with,” said Schuster. “As we look to the coming months, we are excited to continue leading the neighborhood renaissance and welcoming Schutz to their new flagship space.”

Founded in 1995 by Alexandre Birman, Schutz has redefined attainable luxury with its trend-forward footwear–delivering the most of-the-moment collections comprised of hero pieces around which entire outfits are built. With the opening of their US flagship space at 540 Broadway, Schutz will mark the establishment of the brand’s second outpost in New York City. When sourcing the location of their new space, Schutz was particularly attracted to SoHo’s Broadway corridor as it’s been one of the most highly sought-after retail locations in the post-pandemic environment.

Located on the East block between Spring and Prince Streets, 540 Broadway is primely situated in the epicenter of Manhattan’s SoHo retail landscape. The property is a block through retail space with entrances on Broadway and Crosby Street, with 25 feet of frontage from either side. Offering seven-day-a-week foot traffic, the tenant will join a roster of highly notable neighboring retail brands, including Swarovski, UNIQLO, Nike, Sketchers, Mango, Aritzia, Converse, the Museum of Ice Cream, Sephora, Lacoste, GUESS and Lululemon. In addition to this, 540 Broadway benefits from convenient access to MTA’s R, W, 6, B, D, F and M subway stations.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of March 31, 2023, Newmark’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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