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Luxury Italian fashion house PINKO has signed a 5,000-square-foot lease for a new US flagship location in the Soho area of New York City. Alex Carini of Carini Group Brokers negotiated the lease transaction on behalf of the tenant.

The lease transaction is valued at $360,000, equating to a $30,000 per month rental rate or 15% of sales revenue, whichever is greater. Carini says that this is a significant discount for the location, illustrating the local market conditions. He says the lease “indicat[es] continuing real estate savings opportunities for retailers planning expansions in New York City and in other major U.S. markets.” This could ultimately help to fuel the recovery of the luxury retail segment.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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