Los Angeles Apparel is making its SoHo experiment a long-term relationship. The basics: the brand has signed a 10-year lease for roughly 24,687 square feet at 480 Broadway, between Broome and Grand Streets, turning what started as a one-year pop-up into a full-fledged flagship on one of Manhattan's most-watched retail corridors.
The shop quietly opened last August as a trial run. Now, with a decade-long deal in hand, landlords and brokers say the move signals that big-footprint retail is still very much in play in SoHo, even as some national chains have pulled back elsewhere.
Lease details and the space
According to The Real Deal, the lease covers 24,687 square feet split across three levels: about 7,590 square feet on the ground floor, 10,103 square feet on the lower level and 6,934 square feet in a subcellar used for storage. The asking rent hovered around $4 million per year, a price that firmly plants the store in prime SoHo territory.
A RIPCO team led by Richard Skulnik represented the owner, KPG Funds, in the transaction. Dov Charney, who launched Los Angeles Apparel in 2016, told The Real Deal that even after roughly eight months of operating in the space, the store still “needs some refinement for a first-class experience.” The long lease gives him time to deliver on that ambition.
Owner history and pop-up origins
Property records show that KPG Funds and LaSalle Global Partner Solutions picked up the building from Vornado in 2022 for about $17.1 million, according to public-record reporting. Los Angeles Apparel arrived later, first as a short-term pop-up after inking a one-year deal last May, with the SoHo shop opening in August 2025, per the company’s store page.
Since acquiring the cast-iron property, KPG has been repositioning it as a mix of boutique office and retail space. Locking in Los Angeles Apparel on a long-term lease effectively secures a retail anchor for the block, giving the building a street-level draw to match its office tenants upstairs.
SoHo market tightness and adjacent deals
In conversations with brokers, one recurring theme has been SoHo’s tight supply of prime storefronts. The pipeline of big, well-located spaces is limited, which makes renewals and decade-long signings like this one stand out, a broker told The Real Deal.
The building itself recently hit full occupancy after AI audio firm ElevenLabs leased an office floor in January at an asking rent near $120 per square foot, Commercial Observer reported. Other tenants include event manager Posh, creating a mix of creative office users above and a high-profile retailer at street level.
What shoppers can expect
Charney has said the retailer plans upgrades aimed at delivering a more polished, first-class experience, and the 10-year lease gives Los Angeles Apparel room to invest in everything from build-out to merchandising. The brand’s SoHo store page lists hours and contact information for the location, signaling that this is not just another pop-up, but a committed New York flagship.
For SoHo landlords, the deal is one more data point suggesting that mission-driven, nationally scaled brands still have an appetite for marquee Broadway real estate, provided they can land the right corner at the right size for the long haul.
