Lease Beat

CVS Takes 14,274SF Retail Condo at Griffin Court, Recently Sold to Heskel Group for $11.3M


CVS Pharmacy has leased a 14,274-square-foot retail condominium space below Alchemy PropertiesGriffin Court Condominium development at 454 West 54th Street, which was also sold to Heskel Group earlier this month, The Commercial Observer has learned.

The 25-year lease includes 9,000 square feet of street level frontage, set below the eight–story residential towers, where 95 condo units that hit the market in 2010 are roughly 85 percent occupied.

The property is located in the Hell’s Kitchen neighborhood, a first for CVS, and in close proximity to the theatre district. Read More

Fro-yo store Off the Wall Expands in NYC


Off the Wall Frozen Yogurt, a Long Island-based frozen yogurt chain, will open two new stores in Manhattan.

The fro-yo maker’s two new shops will be at 248 West 23rd Street and 4 West 14th Street, according to The Real Estate Weekly

Off the Wall will have a 2,000 square foot storefront at 248 West 23rd Street and a 1,700 square front at 4 West 14th Street. It already has locations at 1053 2nd Avenue and in Cedarhurst, NY.  Read More