Astor Place’s famous subterranean barber shop is sticking around.

Astor Place Hairstylists, which nearly closed in November 2020, signed a new 10-year, 8,104-square-foot lease for below-grade space at 2 Astor Place, landlord GFP Real Estate announced Wednesday. While asking rent for the space wasn’t disclosed, GFP did say that it offered the barber shop a reduced rent so that it would be able to keep its doors open.

The business has occupied the basement of the 12-story, 152,000-square-foot building, also known as 740 Broadway, since 1947. Longtime customer and financier Jonathan Trichter helped assemble a deal to keep the shop in business a year and a half ago, acquiring the business from its longtime owners, John and Paul Vezza. The Vezzas have styled the hair of dozens of high-profile New Yorkers over the past 75 years, including Susan Sarandon, Andy Warhol, Kevin Bacon, Vin Diesel and Alec Baldwin.

Donna Vogel, a senior managing director of GFP Real Estate, represented the landlord in-house for the lease. It wasn’t clear if the tenant had a broker.

“Astor Place Hairstylists is a New York institution,” said Jeffrey Gural, chairman of GFP Real Estate. “As a long-time client, I am delighted to see that the business has not only pulled through the worst of the pandemic but is able to remain in the same location they’ve occupied for more than 75 years. They are an important tenant, and we look forward to their continued success.”