Lease Beat

Food Hall Coming to 230 Park Avenue

230 Park Avenue.

Urban Space, the food hall manager behind Mad. Sq. Eats, Broadway Bites and Dekalb Market, has signed a long-term lease for 10,000 square feet of retail space at 230 Park Avenue.

The tenant is expected to transform 230 Park Avenue’s pedestrian passageway into a showcase for between 20 and 30 chefs and food purveyors. Eldon Scott, president of Urban Space, told The New York Times the food hall will open in approximately one year. Read More

The Plan

Flatiron District Retail Space Up for Grabs at 41 West 24th Street

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After sitting vacant for two years in the heart of the Flatiron District, the new ownership group of 41 West 24th Street has elected to gut-renovate the building’s retail space in order to capitalize on the neighborhood’s growing popularity with office users and residents.

Previously occupied by a deli, the 2,300-square-foot space sits between Fifth and Sixth Avenues and enjoys close proximity to both Eataly and one of the area’s hottest residential developments, 10 Madison Square. Envisioned as the new home for a local or regional purveyor, the retail space at 41 West 24th Street is being marketed by Cushman & Wakefield to a number of potential tenants, including coffee shops.

“We’d love to do coffee, but we have got total flexibility” Steven Soutendijk told The Commercial Observer. Mr. Soutendijk, who is marketing the space alongside Stephanie Katona and Jesse Hutcher, discussed the gut renovation of the disused space.

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The Plan

Upscale Restaurant Space at Boston Properties’ 250 West 55th Street

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Boston Properties’ new marquee office tower at 250 West 55th Street, which is set to open for its anchor office tenants Morrison & Foerster and Kaye Scholer this winter, boasts a number of retail opportunities, including a restaurant space totaling more than 7,000 square feet across the ground and lower levels.

The unique location is a prime intersection for tourist, residential and business traffic. The search for the right tenant, which is being handled by Cushman & Wakefield’s Steven Soutendijk, senior director, David Green, executive vice president, and Christopher Schwart, senior associate, is focused on a full-service restaurant that fits with the image of the building. Though discussions with a number of potential users are ongoing, there have been no handshakes on a deal. The space, though, is ready to begin a build-out should a tenant sign on.

“We’re ready to start now, we’re ready to sign a lease now and we’re ready to get a tenant in the building now,” said Mr. Soutendijk during a tour of the space last week. “A restaurant build-out of this magnitude could take anywhere from six to nine months, and we would love to get it online at the same time as the building, but that would necessitate signing a lease now.” Read More

The Plan

Prime Soho Retail Spot Undergoing LPC-Approved Facade Renovation

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When Invesco Real Estate acquired the building at 130 Prince Street in Soho last year for $140.5 million, the firm hired Cushman & Wakefield to market the property’s retail space.

Currently, two separate retail spaces formerly occupied by Swiss Army and Lacoste boasting a total of more than 8,000 square feet are being marketed across the ground floor and cellar alongside fellow retail tenants Cole Haan and True Religion.

Steven Soutendijk, senior director at Cushman & Wakefield and a member of the leasing team, spoke with The Commercial Observer about how ownership is repositioning the building and how potential retail tenants might utilize the space. Read More

The Plan

Check Out Available Space at the General Motors Building

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The 50-story General Motors Building at 767 Fifth Avenue is among the most sought-after properties in New York. It’s the rare building that takes up an entire city block, situated across from the Plaza and Central Park and bounded by Fifth and Madison Avenues, in one of the top shopping districts on the planet.

Cushman & Wakefield is currently marketing a 6,514-square-foot ground-floor retail space that was made available when CBS moved its morning show’s studio to Hell’s Kitchen last summer. Prospective tenants can count on blockbuster neighbors like the Apple Store and, also in 767 Fifth Avenue, FAO Schwarz to reel customers in to a tall, airy space.

C&W Senior Director Steven Soutendijk reviewed the plan with The Commercial Observer and discussed, what exactly, the space has to offer. Read More