Global jewelry powerhouse Pandora has inked a significant retail lease at Rudin Management’s 3 Times Square, marking a major addition to the iconic New York City location. The new store, spanning 4,107 square feet, is slated to open its doors in late 2026, further solidifying Times Square’s status as a premier destination for international brands.
Key Takeaways
- Pandora Ventures LLC has signed a 10.5-year retail lease for a 4,107 sq ft space at 3 Times Square.
- The new store is expected to open in late 2026.
- This move underscores Pandora’s commitment to Times Square, where it recently established its North American headquarters.
A Prime Location for a Global Brand
The agreement between Rudin and Pandora Ventures LLC brings a globally recognized jewelry brand to the heart of Manhattan. The new Pandora store will be situated in a building that already hosts a diverse array of international brands, reflecting the vibrant commercial landscape of Times Square. This area is a major draw, attracting over 250,000 visitors daily and generating an estimated $10 billion annually from retail, dining, entertainment, and hospitality sectors.
Strategic Expansion and Commitment
Michael Rudin, co-CEO of Rudin, expressed his enthusiasm about welcoming Pandora to 3 Times Square. He highlighted that Pandora joins an "elite group of beloved, globally recognized brands" at this world-renowned intersection. Rudin emphasized that Pandora’s decision to establish a retail presence, following its recent establishment of North American headquarters in the area, is a strong indicator of its long-term dedication to Times Square.
Deal Facilitation
The lease negotiation involved key representatives from both Rudin and Pandora. Rudin’s in-house leasing team, alongside Darrell Rubens of Newmark, represented the property owner. Pandora was represented by David Berke of CBRE, ensuring a smooth transaction for this significant retail expansion.