Velour Medical Signs 12K-SF Deal at 1239 Broadway
By Mark Hallum October 18, 2024 10:36 am
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If injectable cosmetics enthusiasts don’t look excited at this news, it’s the Botox and they can’t show emotion for another hour and a half.
Velour Medical has signed a lease for 12,000 square feet at Justin Management’s 1239 Broadway where it will offer Botox, fillers and other cosmetic procedures in its second Manhattan clinic, according to tenant broker the Kaufman Organization.
Kaufman did not disclose the asking rent or the length of the lease in the NoMad building between West 30th and West 31st streets. Average asking rent in Midtown in September was $83.90 per square foot, according to a report from CBRE.
While Velour lists a corporate office at 234 Fifth Avenue and a clinic at 65 West 36th Street, Kaufman said this will be a “flagship” location for the provider that offers mainly at-home treatments.
“After more than two years of dedicated effort, we are proud to open our doors to this groundbreaking facility,” Zach Goldstein, COO of Velour Medical, said in a statement. “Our concept represents a unique advancement in the aesthetics industry, and we eagerly anticipate the opportunities and innovations that lie ahead for Velour.”
Jared Sternberg of Kaufman handled negotiations for the tenant while Justin Management used in-house brokers. Justin Management did not immediately respond to a request for comment.
The landlord is completing a custom buildout of the space, a sign that tenant demand for concessions such as move-in-ready space is still high, according to Kaufman.
Other tenants in the building include parking ticket dispute app WinIt, skin care and electrolysis provider Limoges Beauty and cosmetics company Sinclair North America.
Mark Hallum can be reached at mhallum@commercialobserver.com.
