Wells Fargo, Trading Card Company Take Retail Space at ESRT’s 1350 Broadway
By Isabelle Durso October 7, 2024 4:49 pm
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Wells Fargo (WFC) and trading card sellers Dave & Adam’s Card World have signed retail leases at Empire State Realty Trust’s 1350 Broadway, Commercial Observer has learned.
In the largest lease, Dave & Adam’s signed a long-term lease for 4,944 square feet at the base of the 25-story office and retail building, while Wells Fargo is taking 3,587 square feet at the property, according to ESRT.
“Desirable retail tenants are attracted to ESRT buildings for their high foot traffic, proximity to transportation and unparalleled service,” Fred Posniak, senior vice president of leasing at ESRT, said in a statement. “These new tenants are great additions to our impressive retail roster and make great amenities for our office tenants across our portfolio.”
An ESRT spokesperson declined to provide the length of the leases and asking rents, but a report from JLL found retail rents in Manhattan averaged $545 per square foot during the third quarter of 2024.
Dave & Adam’s will open its third New York state location at 1350 Broadway, after its stores in Buffalo and Cooperstown, according to its website. The card store sells a wide selection of trading cards, autographed memorabilia and team gear, according to its website.
Posniak and Ripco Real Estate’s Andrew Mandell, Morgan Singer and Sam Martorella, who brokered the deal for the landlord, declined to comment. CBRE’s Annette Healey, who represented Wells Fargo, also declined to comment, and Cushman & Wakefield’s Michael Azarian, James Ariola and Kassie Wallace, who handled the lease for Dave & Adam’s, declined to comment.
Other retail tenants at 1350 Broadway include Playa Bowls, FedEx and Starbucks. The 404,446-square-foot Midtown building between West 35th and 36th streets is also home to office tenants such as law firm Tarter Krinsky & Drogin and software companies Mobileye and Nutanix.
In addition to its leases at 1350 Broadway, ESRT has also recently secured two other retail tenants in its portfolio. Italian sandwich shop Alidoro signed a lease for 1,156 square feet at the Empire State Building, and Omakase restaurant Roppongi 37 signed a deal for 805 square feet at 501 Seventh Avenue.
Posniak and teams from C&W and Ripco brokered those deals for the landlord, while Ripco’s Dillon Ross and Jon Paul Pirraglia represented Alidoro and KSR NY’s Dorel Melloul represented Roppongi 37.
ESRT’s recent deals come after the firm spent about $132.5 million on retail purchases in Williamsburg, Brooklyn, as part of its planned $195 million investment in the neighborhood, as CO previously reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
