Lease Beat

The Children’s Place Coming to Flushing Mall [Updated]

40-24 College Point Blvd.

Children’s apparel and accessories store The Children’s Place will be setting up shop at The Shops at SkyView Center in Flushing, Queens.

The new digs will occupy 3,799 square feet on Level B, the Wall Street Journal reported. The asking rent was $75 a foot for the 10-year lease. The Children’s Place brings the mall to 95 percent leased and the mall’s developer, Onex Real Estate Partners, is reportedly talking to two other national children’s retailers for the remaining two spaces. Read More

Lease Beat

Gap Takes Nascent Downtown Marriott Retail Space

An image of the new Marriott Residence Inn at 170 Broadway. (Credit: Stonehill & Taylor)

Clothing chain Gap Inc. has reportedly signed a roughly 18,900-square-foot lease for a three-level space at the upcoming Marriott Residence Inn at 170 Broadway in Lower Manhattan.

The store reportedly features a 6,500-square-foot ground floor, where asking rents were $600 per square foot, as well as a 5,400-square-foot lower level and 7,000-square-foot second floor. Read More

Lease Beat

Westside Market Plans to Open Fifth Location

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Westside Market has signed a deal for its fifth location in Manhattan.

The family-owned grocery store will take a 18,817-square-foot space at the base of 84 Third Avenue, currently being redeveloped by YYY Third Avenue LLC. The grocery store’s space spans 10,500 square feet on the ground floor, with the remaining 8,317 square feet situated on the lower Read More

Postings

RKF’s Bowery Bustle, Mapped

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Wine bars really began to supplant winos on the Bowery in 2007, when Whole Foods, the Bowery Hotel and the New Museum of Contemporary Art all opened on New York’s fabled broken boulevard. The 2008 market crash did little to slow skid row’s transformation into the Meatpacking District East (see: The Standard, East Village Hotel at 25 Cooper Square, just off Bowery).

Now the Downtown thoroughfare is poised to enter yet another phase of redevelopment. Intermix, the self-proclaimed “fashion boutique for trendsetters, A-Listers and glam fashionistas” opened in May at 332 Bowery, a former bodega. And last month, a portfolio of 11 mixed-use buildings sold to hip-hop clothier Joseph Betesh for $62 million.

The retail brokerage RKF is at the front of this gold rush. And Senior Director Brian Segall has become the firm’s Bowery guru. Last week, Mr. Segall and Robert Futterman, RKF chairman and chief executive, led The Commercial Observer on a tour of the company’s Bowery assignments, which (to the dismay of preservationists including Martin Scorsese) bolster RKF Executive Vice President Ariel Schuster’s prediction that the Bowery will soon be “one golden strip.” Read More

Lease Beat

GNC Net Leases Full Greenwich Village Building, Also Expands in Midtown South

305 Avenue of the Americas

The health retailer GNC inked deals for two new stores in well-trafficked Manhattan intersections.

RKF managing director Greg Covey and executive vice president Ariel Schuster represented the tenant in a 3,600-square-foot net lease of the entire 305 Avenue of the Americas. That Village property sits on the enviable corner of Avenue of the Americas and Carmine Street. The deal was part of GNC’s relocation from 101 Seventh Avenue South.

Read More

Lease Beat

Hollywood Gym to Open First NYC Location, Already Looking to Expand

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Brick, a CrossFit gym, has signed a 10-year lease for just over 13,000 square feet at 257 West 17th Street, Steve Rappaport, senior managing director at Sinvin Real Estate, who represented the tenant, told The Commercial Observer.

Asking rents were $75 per square foot based on the 7,200-square-foot ground floor. The lease also includes 5,900 square feet on the building’s lower level. The space was formerly a D’Agostino’s supermarket.

The Chelsea location will be the fitness chain’s first in New York. Currently, Brick operates a gym in West Hollywood, Calif. Read More

Lease Beat

345 Adams Street 100 Percent Occupied After Orange Leaf’s Cool 1,000-Square-Foot Deal

345 Adams Street

Orange Leaf signed a long-term, 1,000-square-foot lease at 345 Adams Street, giving the Downtown Brooklyn retail condo 100 percent occupancy.

Ariel Schuster and Brian Segall of RKF represented the landlord, Muss Development LLC. Henry Goldfarb, Stanley Lindenfeld and Adam Frisch of Lee & Associates represented the tenant.

This will be Orange Leaf’s first Brooklyn location. The fro-yo chain has six stores throughout Manhattan and Staten Island. The retailer will count other fast food outlets including Panera Bread and Potbelly as neighbors. The Texas barbecue joint Hill Country, which originated in Murray Hill, announced an 11,000-square-foot lease at 345 Adams earlier this month. Read More

Lease Beat

Hill Country Coming to Downtown Brooklyn

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Hill Country has signed a long-term lease for 11,000 square feet at 345 Adams Street in Downtown Brooklyn, it was announced today.

The Texas-themed restaurant operates two locations in Manhattan, at 30 West 26th Street and 1123 Broadway, the site of Hill Country Chicken. Hill Country also hosts live music at their Boot Bar.

Hill Country will occupy space at 345 Adams alongside Panera Bread and Potbelly. The barbeque restaurant will also share a pedestrian plaza along Adams Street and Willoughby Street with Shake Shack. Read More

Lease Beat

GNC Leases 2,100 Square Feet at 302 Canal Street as Corridor Transforms

300 and 302 Canal Street (Credit: NYChinatown.org)

GNC signed a 10-year lease (with a five-year option) for 2,100 square feet at 302 Canal Street, The Commercial Observer has learned.

It will be the health and wellness retailer’s 47th Manhattan location. The store will be evenly divided between a ground floor and basement space. The previous tenant was a local shoe and apparel store.

RKF‘s Ariel Schuster and Greg Covey represented the tenant. ABS Partners Real Estate‘s Mark Tergesen represented the landlord, Charbern Management Group. GNC’s Rory McCutcheon worked in-house on the deal. Read More

Lease Beat

7-Eleven Takes 2,500 Square Feet at 111 Fulton Street

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Convenience store chain 7-eleven has signed a long-term lease for roughly 2,500 square feet of retail space at 111 Fulton Street in the Financial District, The Commercial Observer has learned.

Ross Kaplan of Newmark Grubb Knight Frank represented the landlord, while Ariel Schuster and Greg Covey at RKF represented the tenant.

“There’s a flurry of activity going on Downtown,” Mr. Kaplan said, who has represented the landlord for the last year.  “Tourism and a dense commercial and residential population is a big draw for retailers in this part of town, especially quick-service shops.” Read More

Retail

Retail Run on Bowery

Bowery is fast becoming a retail hotbed. (image: Peter Guthrie on Flickr)

Much has been made of the metamorphosis of the Bowery from one time skid row to trendy runway. Boutique hotels, apartment buildings, the New Museum and residential developments have landed and it seems retail is realizing the street’s potential.

“I really think it’s coming together down there,” said Faith Hope Consolo, chairman of the retail Read More

ICSC

ICSC: Lessons Learned and Shopping Hotspots

Adelaide Polsinelli, senior director at Eastern Consolidated

The International Council of Shopping Centers’ (ICSC) New York conference is over. Meetings were held, retailers were courted, flirtations between players crackled with possibilities. The Commercial Observer asked three experienced New York brokers what they learned at the conference and where the city’s retail hotspots are. This is what they said…

West Side Story

“With Read More