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Luxury watchmaker moves from Madison Avenue to Soho
Lee & Associates NYC announced today that it has represented F.P. Journe, an internationally renowned luxury watchmaker in a 6,210 s/f lease for its new flagship location at 53 Mercer Street.
The company is relocating from its current 900 square-foot Madison Avenue storefront—where it remained for the past 12 years— to a townhouse spanning three floors in Soho. The new store is slated to open in Spring 2022.
F.P. Journe, known for its unique design and innovation—with 9 additional boutiques globally— has a loyal base of collectors and a current waitlist for new pieces that extends well into 2022 and beyond. The founder and namesake, Francois-Paul Journe, is consistently ranked amongst the top watchmakers, and in 2018 luxury brand Chanel took a minority, hands-off stake within the company to ensure its staying power.
Michael Watson of Lee & Associates NYC represented F.P. Journe in the transaction. Newmark’s Pierce Thompson, Ross Berkowitz, Jackie Totolo, and Jason Wecker represented the landlord, Oren Evenhar.
“We targeted Soho from the very beginning, but finding the perfect space was a process because townhouse opportunities are extremely limited in this highly sought-after market,” said Watson. “FPJ was looking for their maison, their forever home, and we are confident that 53 Mercer checks all of the boxes.”
The building at 53 Mercer will provide an upscale clubhouse experience for F.P. Journe’s clientele—equipped with a fully-stocked bar and cigar lounge for leisure and entertainment. The newly gutted space also boasts high ceilings and an open floor plan that was a selling point for the brand. The building is currently undergoing a multimillion-dollar installation that will be outfitted with premiere finishings.
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