Retailer Golftec Opening First NYC Outpost in Midtown
Golftec swung big for its new, 4,500-square-foot flagship at the Mercantile Building in Midtown.
The golf instruction and club-fitting company signed a 10-year deal to open its first New York City location at 10 East 40th Street between Fifth and Madison avenues next summer, Commercial Observer has learned. Asking rent was $125 per square foot, according to Newmark’s Tyler King, who represented landlord Joseph P. Day Realty with colleague Ariel Schuster.
Golftec’s new outpost will be outfitted with six training bays for lessons, a putting green and a reception area, according to a spokesperson for the company.
Joseph P. Day will take a five iron to the store’s East 40th Street facade to give it a facelift and a new entrance before the outpost opens, King said. Golftec wanted to be in Midtown because of the amount of office workers in the neighborhood and its easy access to public transit, King added.
“The co-tenancy here are some of the drivers in general for tenants in this particular submarket, given Amazon’s [nearby] headquarters, its proximity to Bryant Park, transportation and increasing office traffic,” King said.
Alongside Schuster and King, Joseph P. Day’s Richard Teichman and Richard Brickell handled the deal in-house. Winick Realty Group’s Lee Block and Jeff Winick represented Golftec alongside Jason Stein, who has since left Winick for Newmark.
Teichman, Brickell and Winick did not immediately respond to requests for comment. Block confirmed the transaction but declined to comment further.
Celia Young can be reached at firstname.lastname@example.org.