Elliman Marketing LES Building With Seven Retail Spaces [Updated]
Lauren Elkies Schram March 11, 2014, 12:54 p.m.
Seven retail spaces are available for lease at a six-story Lower East Side building that is home to the homey Eastwood Bar.
Douglas Elliman‘s Faith Hope Consolo, Joseph Aquino and Arthur Maglio have been tapped to market the building, at 221 East Broadway, at the southeast corner of Clinton Street.
The spaces are comprised of a total of 4,000 square feet with asking rents of $100 per foot. Only two spaces are currently vacant. The leases of the other tenants expire this year or next. [Update: This story has been edited to reflect that five retail spaces are currently occupied and that the retail spaces together are 4,000 square feet].
“Not only is the area booming with tremendous retail and restaurants, it is the next hub for residential development, including Extell‘s plans for a 70-story tower on Cherry Street,” Mr. Maglio said in a prepared statement. “Clearly, there is a built-in customer base for any tenant leasing at the building that is going to grow exponentially.”
As Commercial Observer reported in January 2013, Massey Knakal Realty Services arranged the $11.3 million sale of the 21,300-square-foot, mixed-use building for a Long Island investor who scooped the competition to win out an aggressive bidding process.
Ms. Consolo added: “This is the heyday of the Lower East Side, home to affluent hipsters and artists. There is so much energy and diversity down here that fashion to food will be perfect for these stores.”