By  on July 28, 2014

Derek Lam doesn’t need a lesson on the pace of New York City commercial real estate.

In the last 18 months, the designer has vacated his sprawling SoHo offices and splashy retail space — a combined 18,000 square feet at 10-12 Crosby Street — closing the ground-floor store in February 2013 and moving operations to the more affordable, if less fashionable, Murray Hill neighborhood in December. Uprooting the headquarters and shuttering shop was an obvious cost-saving measure. When Lam moved into the 10 Crosby address in 2009, it played as a land-grab and assertion of power that were clearly meant to have some level of permanence: The designer named his contemporary collection, which was launched in 2011, Derek Lam 10 Crosby.

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