Calvin Klein Opening 7K-SF SoHo Flagship at 530 Broadway
Fashion designer Calvin Klein and 530 Broadway. PHOTOS: Chris Williamson/Getty Images; Courtesy SHVO
Calvin Klein is opening a new SoHo flagship location at Michael SHVO’s 530 Broadway.
The fashion brand, known for its billboard ads featuring shredded men in tighty whities, signed a 7,294-square-foot lease with the developer as part of a larger plan to plant flagships around the world, Calvin Klein parent company PVH Corporation announced in a Thursday earnings call.
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“We have these incredibly iconic and globally beloved brands, and what we’re doing is to go back to the DNA of each of those brands — Calvin Klein and Tommy Hilfiger — and make them current in everything we do,” PVH CEO Stefan Larsson said during the call. “So, the flywheel starts with the product, the consumer seeing the product getting stronger, leaning into key categories, leaning into innovation in hero products, adding newness. And that leads to the double-digit sell-through improvements for fall `24. That’s why that is such an exciting building block.”
A spokesperson for real estate development company Shvo did not immediately provide the asking rent or the length of the lease, but the average asking rent for retail space on Broadway from Houston to Broome streets was $679 per square foot in the third quarter of 2024, according to a report from CBRE.
Shvo did not disclose the names of any brokers, and PVH did not immediately respond to a request for comment.
During the call, Larsson described the “heart of SoHo” as “one of the best brand-building and foot traffic locations in the world” and “part of Calvin’s brand-building strategy in key markets.”
Other tenants in the 11-story 530 Broadway include the offices for Staple Design, a creative agency with clothing brands such as Staple Pigeon in its portfolio.
Calvin Klein and Shvo aren’t the only ones who have seen value in the property. It was previously owned by Jeff Sutton’s Wharton Properties and Joseph Sitt‘s Thor Equities, Commercial Observer previously reported.
Shvo purchased the building from Sitt in March 2020 for $382 million, according to property records.
Mark Hallum can be reached at mhallum@commercialobserver.com.
