Landlord-developer Charles S. Cohen is bringing the fancy British fashion retailer, Harrys of London, to Manhattan. The modern men’s footwear and accessories label will open a store on the corner of Park Avenue and 57th Street. Keeping true to Cohen’s fashion-loving style, he purchased the brand first.
Cohen owns the retail space in the posh prewar apartment building called the Ritz Tower, located at 465 Park Avenue. This fall, he will open his Harrys of London store in the 1,100-square-feet of space on the buildings ground floor Park Avenue side. A private equity firm in Boston sold the controlling interests in Harrys of London to Cohen just a few weeks before the news of this deal was revealed.
According to The Post, “Founded in 2008, Harrys of London has stores in London’s Burlington Arcade as well as in Kuwait, the United Arab Emirates and Saudi Arabia. Although its wares are sold at Barneys New York and a few other Big Apple retailers, the Park Avenue corner will be its first freestanding US store.
This plan is following the same script that Cohen played out recently with Savile Row tailor Richard James, which he first bought. The title of Harrys’ chairman will be taken by Cohen, just like he did at Richard James. The day-to-day dealings at Harrys will still be handled by the company’s CEO Steven Newey, who will keep his position.
Cohen said, “It’s a brand I’ve long supported and admired. Its expansion into Manhattan, as far as I’m concerned, has been long overdue.”
It doesn’t seem like Cohen is giving his own company any discount, with rent at the retail space in the Ritz at $800 per square foot.
The Post reports, “But Cohen’s London purchases are a response to the same overall retail malaise that’s given New York landlords the jitters. He’d struggled for years to get the lights turned back on at the precious southeast corner of Park Avenue and East 57th Street, which went dark after Borders Books closed in 2011. Meanwhile, Cohen plans to convert 35,000 square feet of retail space on the Ritz Tower’s East 57th Street side for medical use. Cohen recently brought Saks Off Fifth to 135 E. 57th St., the tower he owns at the block’s Lexington Avenue end.”
By Hannah Hayes
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