Lease Beat

Green Mountain Coffee Roasters Leases First NYC Space

120 Fifth Avenue

Green Mountain Coffee Roasters has signed a lease for 6,200 square feet at 120 Fifth Avenue, Commercial Observer has learned, marking the public company’s first New York City location. The specialty coffee and coffee makers’ new sales office and showroom will span the entire third floor of the Bromley Companies’ 70,000-square-foot building at the corner of 17th Street.

“The space was on the market less than 30 days when we struck a deal with Green Mountain for one of the best spaces in the building with 13-foot ceilings, original exposed steel columns and oversize 9-foot windows,” the landlord’s broker, Bromley’s Peter Tong, said in a prepared statement. Read More

Lease Beat

Brooklyn’s City Point Lands First Office Tenant

A rendering of City Point

Artist management and creative content agency Art Partner has signed a 15-year lease to occupy 10,000 square feet at the City Point in Downtown Brooklyn, becoming the development site’s first office tenant.

The agency, whose services include production, syndication and licensing for print, film, social media and more, plans to relocate from its Hudson Square Read More

The Lobby

Shari Krasnow-Renzi Joins Avison Young, KKR & Co. Follows

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Industry veteran Shari Krasnow-Renzi has joined Avison Young as a director of project management as part of the firm’s expansion of its project management services platform in New York City, the company announced today.

Ms. Krasnow-Renzi previously spent 15 years with Turner & Townsend, where she managed build-out and construction assignments.

She will oversee project Read More

Sales Beat

TIAA-CREF Pays $60M for 1511 Third Avenue

1511 Third Avenue

TIAA-CREF has purchased 1511 Third Avenue on the Upper East Side from Related Companies for $60 million, sources tell The Commercial Observer.

The 60,000-square-foot property is a four-story landmarked building, one block south of East 86th Street, the main retail artery in the neighborhood. Read More

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34th Street Partnership Eyes Ambitious Retail Makeover

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This week, as brokers and retailers descend upon Manhattan for the International Council of Shopping Centers’ conference in New York, retail consultants John Harding and Richard Cohan, of the 34th Street Partnership, will be meeting with eight to 10 representatives of brands, restaurants and stores each day to convince them to seek locations in the 34th Street area. Given the retail and brand presence already in place along the retail corridor, they may not have to try very hard.

Mr. Cohan, one of the organization’s retail specialists, lists B&H, Gap, Victoria’s Secret, H&M, Foot Locker and Zara as brands that have found a home in the area. There are also newcomers—Joe Fresh and Vince Camuto have set up shop between Seventh and Eighth Avenues, and Timberland landed in the area last year, as did Uniqlo. Read More

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Fulton Maul: Culture Clash Ensues in Downtown Brooklyn

Armani Exchange at the City Point Development

With the long-awaited Barclays Center open and new residential and mixed-use development projects popping up across Downtown Brooklyn, a retail conundrum is growing along the 17-block Fulton Mall.

The national and in some cases high-end retailers moving onto the strip paint a stark contrast to the long list of mom-and-pops, local discounters and jewelry shops that once almost exclusively lined the street. Read More

Lease Beat

Sporty Gap Races Into 86th and Third

As assured as the sight of tulips blooming in Central Park, is the specter of Upper East Siders in velour track suits ambling as their West Side countparts sprint by. 

No more! Athleta, the Gap sports brand that’s been slowly muscling its way into major U.S. cities, is opening its second New York location at Read More

Gap Renews for Entire Block in Flatiron District

For almost as long as there have been yuppies, there’s been a Gap in the Flatiron district. The retailer will continue its reign over an entire block on Fifth Avenue by renewing its 35,000-square-foot lease for 10 years.

The store between 17th and 18th streets is the largest retail space leased this year in the Read More