RUMI HEADED TO L'ATELIER 446 BROADWAY

Retailer Rumi has its sights — and aesthetically pleasing toys — set on Manhattan.

NEW YORK (December 20, 2021) – Rumi — known for cutesy toys, home goods, stationery and beauty products — inked a deal for its first store in Manhattan in 2,950 square feet at 446 Broadway, Commercial Observer has learned.

“We are thrilled to have Rumi open their first location in Manhattan at L’Atelier 446 Broadway. SOHO foot traffic has now surpassed pre-covid levels and Rumi seized the opportunity to be our first retail tenant. We have created an exceptional quality asset on Broadway in Soho so it was a perfect fit for RUMIs first location,” said Rod Kritsberg , KPG’s CIO.

The chain, which has locations in Queens, Staten Island and Long Island’s Garden City, plans to move into the space early next year, according to a source familiar with the transaction. Asking rent was $300 per square foot for the eight-year deal.

“KPG tasked the leasing team with finding unique and creative retail users. We were able to secure RUMI for their vast and fun product offerings. The retail store is its own experience. We expect the shopper in SOHO to quickly adopt the store as a favorite,” said Richard Skulnik, from Ripco Real Estate

Landlord KPG Funds is building out Rumi’s new partial first-floor retail space in the five-story building between Grand and Howard streets, according to the source. The landlord declined to comment on the deal.

KPG renovated the space earlier this year, adding new elevators, an HVAC system and high-speed internet; and outfitted it with pre-built suites designed by architectural firm 11FiftyNine, CO reported.

The approximately 40,000-square-foot property, first constructed in 1915, is also home to Denmark-based information technology company The Org, which holds about 7,463 square feet of office space in the building after relocating from 118 Spring Street in a deal that closed mid-September, CO reported.

RIPCO Real Estate’s Richard Skulnik represented KPG in the Rumi deal. Yang Realty’s Zoe Yao represented the tenant.