Sephora has committed to a long-term lease for approximately 4,200 square feet of ground-floor retail space at 401 West 14th Street in Manhattan’s Meatpacking District. The lease was signed with Taconic Partners and Nuveen Real Estate and will relocate Sephora’s existing Meatpacking store from its current Ninth Avenue address to the new corner location.
The new store is scheduled to open in the first quarter of 2027. Located at the intersection of 14th Street and Ninth Avenue, the space sits adjacent to Apple’s Meatpacking District flagship, positioning Sephora within one of Manhattan’s highest-profile retail corners. The move consolidates Sephora’s presence in the neighborhood into a location with strong visibility and foot traffic.
Michael Adelstein, vice president at Taconic Partners, noted that Sephora’s decision to lease at 401 West 14th Street reflects the importance of highly visible, heavily trafficked locations in establishing and maintaining a strong retail footprint. He described the Meatpacking District, and specifically the corner of Ninth Avenue and 14th Street, as one of the most iconic and in-demand shopping destinations globally, and pointed to ongoing public-sector and business improvement initiatives that are expected to support the area’s long-term appeal.
Adelstein referenced the 14th Street Plan, launched by the New York City Department of Transportation in partnership with the Meatpacking and Union Square business improvement districts, which is intended to deliver permanent transit upgrades, streetscape enhancements, and public space improvements in the coming years. These efforts are aimed at reinforcing the corridor’s role as a major commercial and pedestrian hub.
Market data from Cushman & Wakefield underscores the district’s current strength. The firm reports that retail availability in the Meatpacking District fell by six percentage points year over year, representing the sharpest decline among all Manhattan submarkets it tracks. Over the same period, average asking rents in the neighborhood increased by 10.3% year over year, indicating tightening supply and improving pricing power for landlords.
The property at 401 West 14th Street is an approximately 65,000-square-foot mixed-use building that serves as a gateway to Manhattan’s historic Meatpacking District. After acquiring the building in 2005, Taconic Partners assembled an award-winning design team, including COOKFOX Architects, to reposition the asset into a prominent retail and office property. The building features a distinctive three-story flagship “jewel box,” which is largely leased to Apple, and has attracted a roster of world-recognized brands.
Taconic has also been active in supporting the surrounding neighborhood, collaborating with organizations such as the Meatpacking Business Improvement District to advance the area’s growth and public-realm improvements. At 401 West 14th Street, the new Sephora lease adds another global retailer to an already high-profile tenant lineup.
On the leasing side, Jason Greenstone of Cushman & Wakefield represented Taconic in the transaction. Sephora was represented by Virginia Pittarelli of Retail by MONA. Financial terms of the lease were not disclosed.
