NEW YORK CITY-Pearl River Inc., owner of two Asian specialty-goods retail stores in Chinatown, has signed a 10-year lease on a 20,000-sf space within walking distance of its other outlets. Talks are under way to shutter the existing outlets and use the new space to consolidate the operation under one roof.

The retailer, which has been featured in numerous high-profile shelter and lifestyle publications, has taken the entire ground floor of 477 Broadway. According to Rich Du, the Helmsley Spears broker who represented Pearl River and building owner Nathan Baden in the transaction, the space was leased for $85 per sf.

Still in the planning stages is the consolidation of Pearl River’s stores at 277 Canal St. and 200 Grand St., into the new site, reportedly to be called Pearl River Mart. The combined size of the two outlets is roughly 12,000 sf, according to Du.

The company sells a wide variety of Chinese-themed products through its Downtown stores and its website.

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