S&N Discount Inc has inked a deal to open in East Harlem.
The new discount store will occupy 6,000 square feet in the single-story building at 2033 Third Avenue between 111th and 112th Street. The space is split between 5,000 square feet on the ground level and 1,000 square feet of basement space.
S&N Discount will replace Food Choice Supermarket which previously leased the space. In addition, the new store will feature fifty feet of storefront windows overlooking Third Avenue. It is in the vicinity of several businesses including McDonald’s, Dominos Pizza, R&S Strauss Auto Parts, a laundromat, and the 110th Lexington Avenue subway that serves the local 6 train and the late night 4 train.
Mark Tergesen, a managing director of retail leasing at ABS Partners, represented the landlord whose name was not disclosed. Young Kim, a director at Robert K. Futterman & Associates, represented the tenant and declined to comment on their behalf.
The landlord was open in his search for a tenant and considered any use or division to the space. The transaction was also a triple net lease with taxes listed in 2007 as $19,349. The asking rent was not disclosed, however.
Down the street, between 110th and 111th Street, a new 175,500 square foot office and medical center was recently constructed. Leasing efforts are currently underway with asking rents in the low $30s per square foot.