PianoPiano Rental Company Nabs 11K SF at 37 West 65th Street
By Celia Young September 20, 2021 3:53 pm
reprints
PianoPiano, a family-owned piano rental company, is moving its musical instruments to the Upper West Side at 37 West 65th Street.
From uprights to grands, the company’s pianos will relocate several blocks north from their previous Hell’s Kitchen space at 244 West 54th Street, according to Lincoln Property Company’s Jeffrey Rosenblatt, who represented the tenant in the deal. Asking rents were $65 per square foot for the 16-year lease.
PianoPiano was drawn to the new, 10,750-square-foot showroom and rehearsal space because of the storefront’s proximity to Lincoln Center and private performance conservatory The Juilliard School, Rosenblatt told Commercial Observer.
The price of the space was also a draw. The coronavirus pandemic has pushed retail rents down in Manhattan, especially in areas popular with tourists and daytime commuters, as businesses have shuttered and PianoPiano is using the downturn to help its business.
“They wanted to take advantage of the market,” said Rosenblatt. “They don’t want to have to move again for a long time.”
PianoPiano was able to negotiate an early end to its former 54th street location, allowing the rental company to move into the seven-story, 37 West 65th early next year, said Rosenblatt.
Built in 1928, the 64,294-square-foot office building is owned by a partnership between Friedland Properties, Chicago-based Benjamin Limited Partnership and EMB Realty, according to PropertyShark and property records.
Rosenblatt handled the deal for the tenant. The landlords did not have a broker. Friedland Properties did not immediately respond to a request for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
