The Meatpacking District’s winds of change are sweeping Sephora from its current Ninth Avenue location to Taconic Partners’ and Nuveen Real Estate’s 401 West 14th St., the home of an iconic Apple store.
The new lease is for 4,200 square feet on the ground floor of the massive building, right next door to Apple. Sephora is expected to launch the new location in the first quarter of 2027.
“Sephora’s move to 401 West 14th St. underscores the importance that a highly visible and trafficked location has on the establishment of a strong retail presence.” said Taconic Vice President Michael Adelstein.
“The Meatpacking District, and in particular the corner of Ninth Avenue and 14th street, is one of the most iconic and in-demand shopping destinations in the world,” he added.
Retail availability in the Meatpacking District fell six percentage points year-over-year, according to Cushman & Wakefield — the steepest contraction in any submarket tracked by the firm. Average asking rents increased 10.3%.
Taconic bought the 65,000-square-foot 401 W. 14th St. in 2005 and repositioned it into premier office and retail property.
Cushman & Wakefield’s Jason Greenstone represented the landlord. MONA’s Virginia Pittarelli repped Sephora.