REI to enter Manhattan

New York Recreational Equipment Inc. (REI) has signed a 15-year lease for its first Manhattan location. The 39,000-sq.-ft. store will be located downtown, in the landmark Puck Building, at 295 Lafayette St., on the corner of East Houston Street. Asking rent for the space was around $275 a square foot, Crain’s New York Business reported.

“Our new store in the Puck Building will provide a resource to serve New Yorkers, visitors and community groups eager to enjoy the great outdoors from bike paths and urban greenways to wild and scenic destinations around the world,” said Sally Jewel, chief executive of REI, in a statement. The company expects the store to open in fall of 2011.