With eyes towards expansion, Apple SoHo Set to Receive 5,000 sq. ft. by July 2012
In what should come as no shock at all, retail mega-giant Apple is set to expand one of its New York stores; this time, in SoHo.
According to Real Estate Weekly, the building was renovated in 2001 to utilize about half of its 30,000 square feet space. Until 2009, the back end of103 Prince St. had been occupied by the United States Post Office.
However, when the space became available, Apple ceased an opportunity to claim a stake of downtown for itself. The Apple SoHo store, which has been open for four years and operating in the space left vacant by the USPS, is set to receive a 5,000 square foot expansion (laid flat, that’s a 50×100 foot space). The renovations comes at the heels of a $20M expansion by Real Estate Space and Investment Firm Imperium Capital. .
“After Apple completes this renovation, we believe it will be the company’s most attractiveManhattanconsumer location,” said Daniel Glaser, co-founder and managing partner of Imperium Capital, who acquired the building in 2011.
While construction is underway, Apple has temporarily relocated to72 Greene St. However, when the Prince St. location re-opens this July, Imperium Capital anticipates nothing but growth for their star techno. tenants.
“We are very bullish onSoHo, especially thePrince Streetcorridor. We look forward to Apple’s continued growth and success in this world-class retail location,” added Samuel Schneider, co-founder and managing partner of Imperium Capital.
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