SL Green Realty Corp., New York City’s largest commercial landlord, has signed a 10-year, 4,629-square-foot lease with Asian brand Line Friends for a portion of the retail space at 1515 Broadway.
Line Friends is a series of emoji-like characters created for users of Asian smartphone service Line. The characters became so popular Line spun them off into a separate company that creates branded products featuring the characters. Line Friends operates 69 stores globally, in such cities as Shanghai, Beijing, Chengdu, Hong Kong, and Seoul.
Strategically situated on the southwest corner of West 45th Street, Line Friends will have 65 feet of wraparound frontage and will benefit from the exclusive use of 1,314 square feet of LED signage in the heart of Times Square’s Bowtie.
“We are thrilled to welcome Line Friends to the SL Green Retail portfolio,” said Brett Herschenfeld, Managing Director.
“Times Square continues to attract strong global retail players. This premier Bowtie location will be Line Friends’ first American flagship. It provides the brand with unparalleled 24/7 exposure to pedestrian traffic, as well as LED signage ideal for showcasing the company’s retail products that complement its digital application.”
Cushman & Wakefield’s Steven Soutendijk, Glenn Yang and Molly Sandza represented LINE Corp. in the transaction, while RKF’s Ariel Schuster, Ross Berkowitz and Jason Wecker acted on behalf of SL Green.
SL Green Realty Corp., owns and manages Manhattan commercial properties. As of December 31, 2016, the Company held interests in 127 Manhattan buildings totaling 47.8 million square feet. This included ownership interests in 28.1 million square feet of commercial buildings and debt and preferred equity investments secured by 19.7 million square feet of buildings.