Ferrari’s fabled prancing horse is hoofing it to Soho.
Retail sources tell us that the legendary Italian automaker has signed a lease at Marx Realty’s 92 Prince St., which is currently home to a large Nespresso coffee bar.
The two-story space has about 3,700 square feet.
It wasn’t immediately known whether the Soho deal would affect Ferrari’s current showroom at 410 Park Ave.
A source said that Tiffany was “on to” 92 Prince earlier but withdrew from talks, opening the gate to Ferrari.
Reps for Marx and for 92 Prince Street’s managing agent, Midwood Investment and Development, said they couldn’t comment. A rep for Ferrari didn’t get back to us.
Soho, which today is a premier luxury and mid-level shopping district, sure has come a long way since its art gallery era.
CBRE reported that some 16 retail deals totaling more than 108,000 square feet bested all other Manhattan neighborhoods in the third quarter of 2023.
It tallied seven deals for over 43,000 square feet in the fourth quarter.
Ground-floor asking rents on Prince Street averaged over $1,000 per square foot, according to CBRE.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
