Lease Beat

Petland Signs at 332 First Avenue in Latest Turnover at Peter Cooper-Stuy Town Retail

In another instance of turnaround at The Shops at Peter Cooper Village and Stuyvesant Town, Petland signed a 15-year, 1,909-square-foot lease at 332 First Avenue, The Commercial Observer has learned. It will be next door to Second Time Around, a consignment shop that in April inked a deal at 334 First Avenue.

Mark Leber of Newmark Grubb Knight Frank represented the tenant. Bruce Spiegel and William Bergman of Rose Associates represented Peter Cooper Village and Stuyvesant Town. Asking rent was $110 a foot. 

Stuy Town as seen from First Avenue.

Stuy Town as seen from First Avenue.

“This location is highly visible from the street, and Petland will enjoy the steady foot traffic along this eastern portion of First Avenue near 18th Street,” said Mr. Spiegel in a prepared statement.

Messrs. Spiegel and Bergman also worked together on the Second Time Around transaction. Peter Cooper and Stuy Town’s “gigantic pool of humanity,” as the tenant representative Scott Galin put it in April, won over that earlier tenant, and a densely residential population would also make sense for a pet supply store.

Rose Associates is the exclusive leasing agent for The Shops at Peter Cooper Village and Stuyvesant Town. The Petland address formerly housed the PCV leasing office.

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