High End Hair Salon Leases Ground Floor Space to Launch Flagship East Coast Studio
NEW YORK, April 13, 2015 /PRNewswire/ — Synapse Retail, the retail focused advisory division of Synapse Development Group, headquartered in New York City, announced that it exclusively represented Spoke & Weal, the renowned high end salon by Jon Reyman with locations in Los Angeles and San Francisco, in leasing space at 147 Grand Street, between Crosby and Lafayette Streets, in SoHo. Spoke & Weal joins WeWork, Pucker and Hampton Chutney Co. as the newest brand to sign a long-term lease on one of Soho's newest emerging retail corridors.
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Spoke & Weal selected the classic cast iron building as its first East Coast studio because the SoHo location offers easy access and proximity to surrounding neighborhoods where its clientele frequent and reside.
Kyle Allen, Director of Retail for Synapse, represented Spoke & Weal, and Jeremy Modest of Ripco Real Estate represented owner Empire Capital Holdings, in the lease of the 1,500 square foot ground floor and full selling basement. Spoke & Weal signed a 10-year lease for the space, which had an asking rent of $200 per square foot.
Commenting on the deal, Mr. Allen noted, "The salon's first east coast studio will be a welcome and complementary addition to the trendsetting neighborhood. The location is the perfect outpost for the beloved California retailer to fully express its unique style and philosophy while connecting with the local NYC community."
About Synapse Development Group
Synapse (www.synapsed.com) is a real estate investment and development firm headquartered in New York City. The company focuses primarily on urban markets throughout the U.S., and seeks to develop to the highest building standards in terms of energy performance, aesthetic, and functionality. Synapse is currently developing two mixed-use projects with YOTEL as well as New York City's first market rate Passive House apartment building.
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