Acupuncture Chain To Open Third NYC Location on the Upper West Side
By Nick Trombola April 30, 2024 9:00 am
reprints
There’s about to be a lot more back-stabbing on the Upper West Side.
Acupuncture studio and wellness brand WTHN has inked a 3,700-square-foot lease for a new location in the residential building at 69 West 71st Street, according to brokers Brand Urban. The company will occupy 2,100 square feet of retail space on the building’s ground floor and an additional 1,600 square feet on the lower level.
Taryn Brandes and Emily Green of Brand Urban represented WTHN in the lease transaction, while Harrison Abramowitz, Michael Paster and Jason Pruger of Newmark (NMRK) represented the landlord, locksmith Cosmic Fischer under the LLC 71st Realty Associates.
Brand Urban did not immediately provide the other terms of the deal, but average asking rent for retail space on the Upper West Side was $291 per square foot in the first quarter of 2024, according to a Cushman & Wakefield (CWK) report.
The new West 71st Street location, set to open later this year, will be WTHN’s third location in New York City, joining others in the Flatiron District at 20 West 22nd Street and Williamsburg, Brooklyn, at 97 North 10th Street. Located just a block away from the Columbus Avenue retail corridor, WTHN’s West 71st Street location will join other wellness-focused neighbors such Heyday, Equinox and Juice Press.
“The Upper West Side has become a prime target market for elevated service brands in the health and wellness space,” Brandes, who founded Brand Urban, said in a statement. “With a greater void in the market compared to the Upper East Side, this site presents a real opportunity to cater to an untapped market craving elevated, accessible wellness experiences.”
Abramowitz, Paster and Pruger did not immediately respond to requests for comment.
Asking rents for retail properties in Manhattan in the first quarter of this year scaled by an average of 7.2 percent year-over-year, despite being about 15 percent lower than 2019’s first quarter average, according to a recent quarterly report from Cushman & Wakefield.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
