Lease Beat

Muss Development Buys Retail Condo, Simultaneously Lands Le Pain Quotidien

(Credit: Toll Brothers)

Muss Development has purchased a retail condominium at the base of Toll BrothersTouraine luxury residential building on the Upper East Side for $12 million, and construction is already underway to outfit the space for a new Le Pain Quotidien.

The build out of the 5,000-square-foot retail condominium at 865 Lexington Avenue (aka 132 East 65th Street) will take approximately three months to complete, at which point the European cafe chain will move into its 31st Manhattan location, Jason Muss of Muss Development told Commercial Observer. Read More

Lease Beat

Mount Sinai Expansion Tops 20,000 Square Feet of Leasing at 1556 Third Avenue

agora1[1](1)

The Icahn School of Medicine at Mount Sinai has signed a 10-year, 3,616-square-foot expansion on the fifth floor of Muss Development’s 1556 Third Avenue, known as the Agora Building, The Commercial Observer has learned. Asking rents were not disclosed.

The medical tenant’s lease, which brings its total footprint to 8,424 square feet, is the largest of 20,000 square feet of new leases and renewals at the Upper East Side property.

“The Agora Building at 1556 Third Avenue is meticulously maintained, providing Upper East Side tenants a high-end leasing option in an area with few comparable alternatives,” said Jason Muss, principal at Muss Development, in a prepared statement. “We continue to see strong demand for space.” Read More

Lease Beat

Muss Development Welcomes Mount Sinai Heart

Courtesy of City Biz List

Mount Sinai Heart has inked a deal on the Upper East Side.

The medical center will take a 4,808 square foot space on the fifth floor of Muss Development’s Agora Building, or 1556 Third Avenue.

“We believe they were attracted to the quality of the building and its proximity to the entire Upper East Side. Read More

Big Sales

Upper East Side Office Building on the Block

It’s one of few commercial office buildings on the Upper East Side, and it’s just gone on the block, CB Richard Ellis brokers told The Commercial Observer yesterday. And based on recent activity in the area, the six-story office and retail building at 1556 Third Avenue could fetch nearly $65 million when prospective buyers begin looking at the asset. The price Read More