Chic boutique finds its outlet on Bleecker

Date Published: 
Apr 21, 2010

By Adrianne Pasquarelli

Pinkyotto’s expansion is continuing. The five-year-old chic boutique, which started out in the East Village and has since added outposts in Williamsburg, Brooklyn, and NoLIta, recently signed a 10-year lease for 550 square feet at 330 Bleecker St., between 10th and Christopher streets.

The space, which includes a 325-square-foot basement, had an asking rent near $400 a square foot.

“Despite this so-called tremendous market downturn, Bleecker Street has maintained certain rent levels,” says Cory Zelnik, the Zelnik & Co. broker who, along with colleague Jason Turner, represented landlord BLDG Management Co. “They fell off some of those crazy asking highs of $600 a foot, but there’s consistency with tenants wanting to be down there.”

Pinkyotto, which also has locations in L.A. and Boston, was represented by Faith Hope Consolo and Joseph Aquino of Prudential Douglas Elliman. The apparel shop, expected to open for business by the end of June, replaces Satya jewelry store, which is consolidating two locations next door at 332 Bleecker St.

Publisher: 
Crain’s New York Business