Lease Beat

Private Learning Center Signs Lease at Affordable Housing Complex [Updated]

444 2nd Avenue

A private early learning center signed a 15-year lease in a renovated 6,416-square-foot retail space on the ground floor of an affordable housing complex at 444 Second Avenue in Kips Bay, Winick Realty Group announced today.

Explore & Discover will open an eight-classroom, 80-student school for children aged 3 months to 2 years this September following a $20 million renovation last year by Henry Phipps Plaza, an owner, developer and manager of affordable housing that owns the 33-story, 247-unit building. Read More

Lease Beat

European Wax Center Adheres to 295 Park Avenue South

295 Park Avenue South

European Wax Center continues to grow out at a rapid clip.

The Commercial Observer has learned that the personal grooming chain signed a 5,100-square-foot lease at 295 Park Avenue South, where it will soon open an unusually spacious two-story location. Asking rent was $150 per square foot. Yesterday, it was announced that EWC had inked a 1,650-square-foot deal at 95 Chambers Street, the tenant’s first Tribeca location. Both outposts should open this coming spring. Read More

Lease Beat

European Wax Center Joins List Of Beauty Tenants At 222 East 34th Street

wax

The personal grooming chain European Wax Center inked a 10-year lease on a 1,900-square-foot-store at 222 East 34th Street in the newly developed residential building The Anthem, The Commercial Observer has learned.

Other tenants to recently sign at the Murray Hill building include the local gym empire Crunch and Drybar, a salon capitalizing on the current craze for blowouts, making the 25-story, 480-unit The Anthem a one-stop shopping destination for personal improvement.

Winick Realty Group Managing Director Hal Shapiro and Associate Director Josh Siegelman represented the tenant and landlord, Rosebud Associates. Read More

Mortgage Beat

$51 Million Construction Loan from CIBC Funds Lightstone Multifamily

50-01 2nd Street.

A Long Island City residential project is underway thanks to a $51 million construction loan provided by Canadian Imperial Bank of Commerce.

The Lightstone Group and its sponsored, non-traded REIT Lightstone Value Plus are constructing the 199-unit multifamily property at 50-01 2nd Street along the East River in Long Island City. Financing from CIBC closed September 28, 2012. Read More

Lease Beat

“Blow Dry Bar” Drybar Opens at 222 East 34th Street

Image from emersonsalon.com

Drybar, a California-based chain of “blow dry bars” that offer blowouts for $40, has signed a long-term lease to open at 222 East 34th Street, The Commercial Observer has learned .

The blow dry bar (we’re debating calling it a “salon saloon”) will be taking a 1,900-square-foot space in the “The Anthem,” the newly constructed 25-story residential tower on 222 East 34th Street. This will be Drybar’s third location in the city. It already has two stores in the Flatiron District and inside Le Parker Meridien Hotel.  Read More