Hell’s Kitchen Retail Space Hits the Market
Gus Delaporte May 2, 2014, 10:50 a.m.
Eastern Consolidated is marketing a 2,800-square-foot retail space at 695 Ninth Avenue in Hell’s Kitchen, Commercial Observer has learned.
The space, formerly home to a video store, is vacant and available immediately. The opportunity is being offered on a 10- or 15-year term with asking rent of $200 per square foot. Less than a week old, the listing is already garnering interest.
“Whenever we bring something to market in that corridor, it usually rents quick,” said James Famularo, a senior director at Eastern Consolidated. “We hung the sign Monday and after a day we had two offers.”
The unit, which boasts 2,000 square feet on the ground floor and 800 square feet of storage space on the basement level, is best suited to food use but could also accommodate retailers, according to Mr. Famularo.
“With Kiehl’s opening diagonally across from it, we’re seeing the strip change,” he said. “We just started this process and it will be fun to see who else comes to the table.
Of the two offers on the table, one is a food-use and the other is a dry-use, Mr. Famularo noted.