Lease Beat

Baked by Melissa’s Pick-Up Window Returning to Soho

Tie-Dye Baked by Melissa cupcake (Baked by Melissa website).

Less than a year after the closing of a Baked by Melissa pass-through window on Spring Street, the mini-cupcake specialists are returning with a window on the same street, a source with intimate knowledge of the deal told Commercial Observer.

Baked by Melissa launched its bite-size cupcake business in the city with a window at 80 Spring Street in March 2009. That shop closed on July 21, 2014 before a construction project at Broadway and Spring Street commenced, as Grub Street previously reported. Now, Baked by Melissa will be setting up a new window at JTRE‘s 63 Spring Street at the corner of Spring and Lafayette Streets.  Read More

Fifth Avenue Still on Top, Despite What Study Shows

Joe Sitt, of Thor Equities.

Fifth Avenue’s drop from the top spot of Cushman & Wakefield’s list of the world’s most valuable shopping destination has more to do with surging rental rates in Hong Kong than it does a loss of value here in New York. That city’s Causeway Bay now holds the distinction of being the most expensive strip Read More

The Plan

Retro Fitness’ New Brooklyn Gym

CO Page 30 - The Plan

Since 2010, when Retro Fitness opened its first New York area location in Staten Island, the low-cost fitness center has been making major inroads on the East Coast.

Now boasting six locations within the five boroughs, Retro’s low $19.99-a-month fee has been giving its closest competitor, Planet Fitness, a run for its money.

With a new lease on Avenue Y in Brooklyn signed earlier this month, and a projected 30 locations throughout the five boroughs in the next three years, Jack Terzi, a tenant rep for Retro Fitness and president of the brokerage firm JTRE, reviewed the floor plans of its soon-to-open gym at 1623 Flatbush Avenue with The Commercial Observer and explained why the rapidly expanding company chose to open in the Flatlands section of Brooklyn.
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