Ralph Lauren Acquires Historic Flagship Retail Property at 109 Prince Street in SoHo, Manhattan

April 18, 2025 9:00 AM

Ralph Lauren Corporation (NYSE: RL) has acquired its historic cast-iron flagship retail property at 109 Prince Street in SoHo, Manhattan, for $132 million. The acquisition marks a pivotal moment for the luxury brand as it deepens its roots in one of the world’s most renowned retail corridors. Newmark Vice Chairman Robert Cohen and Senior Managing Director Peter Whitenack, who have advised Ralph Lauren for over two decades, represented the buyer alongside Co-Head of Newmark’s U.S. Capital Markets Adam Spies.

Ralph Lauren has operated out of 109 Prince Street since 2010 and weighed its long-term real estate strategy, with its lease nearing expiration. The decision to acquire the asset reflects the brand’s broader global vision of owning key flagship locations and operating as its own landlord—a strategy increasingly being adopted by leading luxury retailers, including Prada, Kering (Gucci) and Dyson which also purchased high-profile retail footprints in Manhattan’s top shopping corridors.

“This acquisition is a milestone moment for Ralph Lauren, emphasizing the brand’s deep commitment to New York City and to this iconic SoHo location,” said Cohen. “Like other luxury players acquiring their flagship storefronts, this is a long-term bet on brand control, consumer experience and the enduring power of prime Manhattan real estate.”

109 Prince Street comprises approximately 3,468 square feet on the ground floor, 5,242 square feet in the lower level and 3,432 square feet on the second floor. With 120 feet of wraparound frontage at the corner of Prince and Greene Streets, the building is positioned in the heart of SoHo —one of New York’s most dynamic luxury retail destinations. Neighbors include Dior, Chanel, Tiffany, Moncler, Balenciaga and Apple. The area benefits from exceptional foot traffic, global visibility and access to key transportation lines including MTA’s B, D, F, M, 6, R and W subway lines.

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Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of over $2.7 billion. As of December 31, 2024, Newmark and our business partners together operated from approximately 170 offices with more than 8,000 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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