Vacant Village

Series of High-Profile Retail Closures in Village Points To Momentarily Stark Reality

Shuttered location of Pet Central  at 237 Bleecker Street (credit: Lauren Elkies Schram)

In the world of real estate, as in life, perception is in the eye of the beholder.

The retail market in the West Village and Greenwich Village is no exception, as neighborhood staples close due to rising rents, leaving spaces vacant and landlords searching for high-rent-paying tenants. While neighbors may find the shuttered shops to be eyesores and longtime retail tenants may find the skyrocketing rents unfair, many brokers leasing those spaces are saying it’s due to a hot market and the changing nature of the neighborhood. Read More

Lease Beat

Off The Wall Frozen Yogurt Continues Four-Store Manhattan Expansion

Photo Courtesy of Off The Wall

Off The Wall Frozen Yogurt recently procured four Manhattan leases with the help of RKF Vice President Joshua Strauss and Director Zach Winkler.

The chain, which originated in Cedarhurst, NY, opened its first city outpost last spring at 1053 Second Avenue between 55th and 56th Streets. (RKF’s Michael Worthman assisted with that deal) That 2,050-square-foot shop was joined last week by a 2,000-square-foot location at 248 West 23rd Street in Chelsea.

A 1,700-square-foot store is due to open at 4 West 14th Street next month, followed by a 2,500-square-foot outpost at 11 Times Square. Read More