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

Banana Republic Scores New Flatiron Flagship Space

105 Fifth Avenue

Apparel and accessories brand Banana Republic is establishing a Flatiron District-area flagship shop in a space that served as Barnes & Noble‘s flagship location.

Banana Republic will use the 28,000-square-foot multi-level space, at 105 Fifth Avenue at the corner of 18th Street, to consolidate the separate men’s and women’s stores that are a block south. Read More

Lease Beat

Reebok Fit Hub Headed to 1 Union Square West

1 Union Square West

Reebok is getting in on the CrossFit craze, and will combine its own cross-fit gym with a retail space at an address currently occupied by Diesel jeans.

The athletic apparel  and footwear company inked an 11,600-square-foot deal at 1 Union Square West that will become the flagship Reebok Fit Hub retail space and cross-fit center. Read More

Lease Beat

Natuzzi Leaves Soho for Nomad

Natuzzi Americas will be relocating to Nomad.

The Italian furniture retailer will leave its space at 101 Greene Street and move uptown to 105 Madison Avenue. The new lease, set to extend through 2023, will span 4,900 square feet on the ground floor of the building. 

“With this lease, Natuzzi Americas has moved from one furniture district to another, Read More

Cover Story

Times Square Marches On

New York''s Times Square

Lisa Steinberg was just a few months out of college when she was bound, gagged and stabbed to death in the office of a Gap store on West 57th Street near Broadway. It was January of 1992, halfway through David Dinkin’s only term as mayor of an increasingly anarchic and crime-plagued New York. 

The murder rate had peaked at 2,245 in 1990. But the number of homicides climbed in the Midtown South precinct—which includes Times Square—reaching 11 in 1993. East New York’s 75th precinct broke the record that year for the most murders in a single precinct: 126.   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

Sales Beat

Chelsea Retail Condo Sells for $8.7 M.

(Photo: luxurynewyorkcondominium.com)

RKF has arranged the $8.7 million sale of a 3,513-square-foot retail condominium at the base of 127 Seventh Avenue in Chelsea, the firm announced today.

The retail condominium, which consists of 2,063 square feet on the ground floor and 1,450 square feet on a lower level, is leased to CORE Group.

“The Chelsea market continues Read More

Lease Beat

3.1 Phillip Lim Store Headed to Booming “Bowery District”

48 Great Jones Street

Following speculation yesterday that the designer Phillip Lim had closed on a second New York store, RKF confirmed a 5,800-square-foot lease at 48 Great Jones Street in Noho.

The deal will bring 3.1 Phillip Lim near the white hot center of the Bowery retail real estate stampede RKF has helped foment. Senior Director Andrew Connolly and Yael Amron represented the landlord, 48 Tenant’s Corp. Esteban Gomez of Town Real Estate repped the tenant, whose original Manhattan location is at 115 Mercer Street. 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

Sea Change

Welcome to the South Street Tweeport! Downtown Tourist Trap Aims for Cool, Cool Summer

Ch-Ch-Ch-Ch-Changes at the Seaport.

On a recent summer Saturday afternoon, the weather is perfect but the South Street Seaport’s so-called Tourist Alley is devoid of tourists. Nearly eight months after Sandy ransacked the area, its tent-pole businesses—Abercrombie & Fitch, Ann Taylor, Brookstone—remain closed.

Over at Pier 17, at the widely loathed third-floor food court, Arthur Treacher’s and Subway do a brisk business. A thousand little Statues of Liberty glimmer beneath fluorescent lighting. Read More

Retail Lease Beat

Reebok Fit Hub Opening on Third Avenue

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Reebok Fit Hub has signed a 10-year, 4,078-square-foot-lease at 1132 Third Avenue, it was announced today. Asking rent for the ground floor retail space was $250 per square foot.

“Third Avenue in the 60s has rebounded and has become an extremely tight market once again,” said Michael Kadosh of CBRE, who represented the landlord, in a statement. “1132 Third Avenue’s prime location is across the street from lululemon, making it a perfect fit for Reebok Fit Hub.” Read More

Lease Beat

British Candy Shop to Reopen in West Village This Month

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The London Candy Company, a British candy and coffee retailer is relocating from the Upper East Side to the West Village, having signed a 1,000-square-foot lease at 267 Bleecker Street.

“The London Candy Company is moving to a location where they will benefit from significantly enhanced foot traffic,” noted Justin Fantasia, associate at RKF, who represented the tenant, in a statement. “They’ll enjoy increased brand exposure to a wide variety of potential customers.” Read More