Beck Street Capital Announces Bleecker Street Lease With Luxury Retailer A.P.C.

NEW YORK, Aug. 17 /PRNewswire/ -- Beck Street Capital, a private real estate investment firm, today announced that A.P.C.  (Atelier de Production et de Creation) has signed a new, 10-year lease to occupy an approximately 724 square foot retail space at 384 Bleecker Street in New York City.  A.P.C. joins a strong collection of luxury retailers on Bleecker Street including Marc Jacobs, Mulberry, diptyque, Ralph Lauren, Brunello Cucinelli, Bonpoint and Robert Marc.  The A.P.C. lease, which became effective on April 1, 2010 and expires on March 31, 2020, extends Beck Street Capital's retail portfolio lease-up at 382-384 Bleecker Street.

"Due to its extremely constrained supply, Bleecker Street seldom has retail openings and we are very excited to add A.P.C. to the street's tenant mix. Bleecker Street has established itself as the premier downtown location for global luxury retail," said Kevin Comer, Senior Managing Director of Beck Street Capital.  "Beck Street Capital seeks to continue developing spaces that encourage economic stimulation within the community while creating value for our investors."

382-384 Bleecker Street, acquired by Beck Street Capital in March 2005, is a mixed-use residential and retail asset consisting of approximately 14,281 square feet. The building, located in the internationally renowned Greenwich Village Historic District, is uniquely positioned on the prime corner of Bleecker and Perry Streets in Manhattan's West Village neighborhood.

Joel Isaacs and David Baker of Isaacs and Company represented both Beck Street Capital and A.P.C. in the lease transaction.  Isaacs stated, "We are extremely pleased to facilitate this long-term lease between A.P.C and Beck Street Capital.  For Beck Street, the unit was leased to a global luxury fashion tenant while it met all of A.P.C.'s requirements including prime location, key efficiencies and strong retail adjacencies." 

A.P.C. is a French ready-to-wear brand known for its high quality fabrics and designs. The brand has recently opened stores in the U.S. and globally. Other U.S. locations include Brooklyn, NY, and West Hollywood, CA.

About Beck Street Capital

Beck Street Capital is a private real estate investment firm headquartered in New York City. Formed in 2000, Beck Street Capital invests in high value-added, mixed-use investment properties in dense urban locations with high barriers to entry. Beck Street invests in a number of asset classes, including office, residential and retail, and has successfully completed value creation strategies that include retail repositioning, residential condominium conversion, and asset redevelopment. For more about Beck Street, visit www.beckstreetcapital.com.

SOURCE Beck Street Capital

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