Gentle Monster Leased Space at the Puck Building
The eyewear brand has secured a long-term lease at the former SoHo flagship location of REI.
Updated on Oct. 13, 2026 in Commercial
Live Poll
Does the replacement of local retailers with high-end global brands improve your neighborhood's character?
Gentle Monster has signed a lease for 28,500 square feet at the historic Puck Building at 295 Lafayette Street. The space was previously occupied by an REI flagship store, which ceased operations in July 2026.
Why it matters
This significant retail shift transforms a prominent corner of SoHo, bringing a global eyewear brand into a space left vacant by a major outdoor retailer. The move adds to a series of large commercial leases at the Puck Building, which has recently attracted major corporate tenants.
The lease term for the new retail space exceeds 10 years. This development follows a period where SoHo retail rents reached an average of $1,409 per square foot in Q3 2026.
The players
Gentle Monster
An international eyewear retailer founded in South Korea that operates 84 stores worldwide and sells products ranging from $250 to more than $500.
Puck Building
A historic commercial property at 295 Lafayette Street that has recently secured major leases from entities including OpenAI and Quadrature.
Torrisi
A local eatery currently operating out of a 4,000-square-foot space that will expand into the remaining portion of the former REI retail site.
The details
Gentle Monster, which operates 84 stores globally, secured the location through negotiations led by Cornelia Street Partners. The Puck Building property owner, represented by Ripco Real Estate, is also leasing the remaining portion of the former REI square footage to the nearby Torrisi restaurant for expansion. The site transition marks a major repurposing of the flagship retail footprint that existed at the address since 2011.
Timeline
2011: REI began its tenancy at the Puck Building.
July 2026: REI closed its SoHo flagship store.
Q3 2026: SoHo retail rents averaged $1,409 per square foot.
October 2026: The lease for the new retail space was signed.
The Home Front
The arrival of Gentle Monster at the Puck Building reflects an ongoing evolution in SoHo's retail landscape toward high-end luxury and experiential flagships. This movement aligns with the area's recent market trends, where commercial rents have reached an average of $1,409 per square foot.
Residents should keep an eye on sidewalk and pedestrian access near 295 Lafayette Street as the space undergoes tenant improvements. If you are a fan of the brand, verify your location preferences on their official site before heading out to visit a store.
The takeaway
The Puck Building is seeing a significant tenant transition as large-scale luxury retail and tech office spaces replace former long-term retailers. Keep track of your favorite local storefronts, as major leases like these often trigger long-term changes to foot traffic and parking patterns.
Further reading
For more updates on business changes in your area, visit our Commercial section.
Source note: This article includes information reported by Commercial Observer.
Live Poll
Does the replacement of local retailers with high-end global brands improve your neighborhood's character?
