The Art of Shaving has signed a new 10-year lease for a 752-square-foot ground-floor space at 1140 Third Avenue, Commercial Observer has learned. The asking rent was $325 per square foot.
The Third Avenue store will be The Art of Shaving’s eighth in New York and is listed on the company website as a “Barber Spa” location. An official opening date for the location could not immediately be confirmed.
The national chain will join a growing number of prominent retail tenants with locations on Third Avenue between 66th and 67th Streets. Reebok, Nike and Carlo Pazolini have all signed leases on the block in the past 12 months.
“Our mindset is to try to build off the momentum that the area has seen,” said Michael Kadosh, a first vice president at CBRE (CBRE), who represents Crescent Heights, the landlord at 1140 Third Avenue.
As reported by Commercial Observer, Mr. Kadosh represented the landlord in a lease that brought Reebok to the building last summer. The athletic brand signed a 10-year, 4,078-square-foot lease at 1132 Third Avenue, located on the 66th Street corner of the building.
The property boasts 2,000 square feet of available retail space located next to The Art of Shaving’s new location. It is likely the space will be divided in two with asking rent of $375 per square foot, according to Mr. Kadosh.
“This building offers a combination of some larger space and smaller space, which is difficult to find,” he said.
Scott Schuster of the Schuster Group represented the tenant in the leasing transaction. The deal was signed in January.
