Category: Business
South Korean eyewear brand Gentle Monster has signed a long-term lease for 28,500 square feet at the Puck Building in SoHo, taking over three levels of the former REI flagship at 295 Lafayette Street.
The agreement exceeds 10 years, although its exact length and financial terms have not been publicly disclosed. The lease secures a substantial retail footprint in a historic Manhattan property as the building’s former outdoor-gear store gives way to a mix of fashion retail and dining.
The remaining portion of REI’s former space is slated for an expansion of Torrisi, the Italian restaurant already operating at the Puck Building. It remains unknown whether Gentle Monster will move its existing SoHo flagship from 70 Wooster Street to Lafayette Street or operate both locations.
A three-level flagship in a landmark setting
The Gentle Monster lease covers 28,500 square feet across three levels of the building. The brand will occupy part of the space previously used by REI, which closed its SoHo store in July after a 15-year run. The former flagship spanned about 35,000 square feet.
The building’s available retail footprint had been marketed across a ground floor, lower level and sub-lower level. Its scale and configuration offer a substantial canvas for a retailer seeking more than a conventional street-level shop. No details have been announced about the planned store’s layout, design, opening date or construction schedule.
Gentle Monster is known for retail spaces that combine eyewear displays with installation-like design. Its existing SoHo location at 70 Wooster Street features oversized sculptural elements, giving shoppers an experience that extends beyond browsing shelves. The Lafayette Street site offers a different architectural setting, with the Puck Building’s historic character and multi-level interior.
The new lease does not confirm that the brand will duplicate that approach at the Puck Building, but its commitment to nearly 29,000 square feet indicates a significant investment in the location. A store of that size could allow distinct areas for product displays and brand presentation, though the company has not outlined its plans.
Torrisi will expand into the balance of the space
The arrangement also keeps dining in the mix. Torrisi, which operates at the base of the Puck Building, is expected to expand into the portion of the former REI premises not leased by Gentle Monster.
The restaurant’s expansion and the eyewear store’s arrival represent separate uses of the former flagship footprint. Together, they will replace a single large outdoor retailer with a combination of retail and restaurant activity. Specific square footage for Torrisi’s expansion has not been disclosed.
The change marks a notable shift for the building’s street-level presence. REI had been a destination for outdoor equipment, apparel and gear, while the incoming tenants serve customers through luxury retail and dining. The businesses may draw different audiences, but both add consumer-facing activity to a property positioned among SoHo, NoHo and Nolita.
The property’s location is also close to Broadway-Lafayette station, where several subway lines meet. Its broad frontage along Lafayette, Mulberry and East Houston streets gives the site exposure across a busy stretch of Lower Manhattan. Those features can help bring a store into view for shoppers moving through the area, although the lease alone does not establish how much traffic the new location will attract.
The existing Wooster Street store remains part of the picture
Gentle Monster has not said whether the Puck Building location will replace its current SoHo flagship on Wooster Street. The two spaces are in the same broader neighborhood, but the new lease could support a relocation, an additional location or a different operating arrangement. No decision has been made public.
That uncertainty matters because the new commitment represents a much larger footprint than a typical boutique. Operating two stores in one neighborhood could offer the brand additional space and visibility, while a move would consolidate its presence at the new address. Those remain possibilities, not confirmed plans.
The company has also not announced when customers can expect the Puck Building store to open. The former REI space must transition to its new tenants, and the scope and timing of any changes have not been detailed.
What the deal signals for SoHo retail
The lease adds a major brand commitment to Manhattan’s retail landscape and gives one of SoHo’s large former storefronts a new tenant. It also underscores the continuing role of large-format spaces in the neighborhood, where retailers can use expansive interiors to build a destination rather than a standard shop.
For landlords, dividing a former single-tenant footprint between retail and restaurant uses can broaden the range of businesses occupying a property. In this case, Gentle Monster’s commitment takes most of the former REI space, while Torrisi is expected to grow into the balance. The transactions point to a new tenant mix without implying that every large vacancy can be leased on similar terms.
For visitors and nearby businesses, the result will depend on execution: the eventual opening timeline, the store’s design and how the restaurant expansion is integrated into the building. Those details have not yet been released. The confirmed development is the lease itself and the plan to bring two established brands into different parts of the former retail space.
The Puck Building’s position also links the retail transaction to a wider business story. The property combines consumer-facing storefronts with office tenants, including technology companies. That mixture places the deal within both Manhattan business news and the broader conversation around NYC tech news, where Lower Manhattan’s commercial properties serve industries well beyond traditional retail. The Gentle Monster lease is a retail agreement, not a technology transaction, but it adds another prominent tenant to a building with a varied commercial profile.
The deal’s undisclosed rent and exact term limit comparisons with other SoHo leases. A commitment exceeding 10 years does, however, establish a long-term horizon for the brand’s use of the space. It also provides a clear next chapter for a prominent former flagship after REI’s departure.
New York News Daily will continue to follow the Puck Building’s tenant changes and the city’s shifting commercial landscape. Read more Manhattan business coverage and New York retail leasing news.