Colliers International
MoMA to stay in Soho
Photo by Matthias Mueller/ Flickr
Colliers International has arranged a 15,000 s/f retail lease at 81 Spring Street, with the Museum of Modern Art Design Store renewing its space in Soho for another 15 years.
MoMA — the landmarked property’s sole retail tenant since it was converted to a luxury residential condominium in 2001 — will continue to occupy its space on the ground floor, selling basement, and sub-basement.
“The MoMA Design Store has been a wonderful tenant at 81 Spring Street, adding to the culture and vibrancy of the neighborhood,” said Marvin Rosenberg, a senior managing director with Colliers International, who, with colleagues Pat Breslin, Ken Yip, and April Kim arranged the lease on behalf of the landlord, a private owner.
“MoMA’s impeccable credit standing was a key factor driving the landlord’s decision to renew MoMA’s lease.”
Simon Dallimore, of Dallimore & Co., represented the MoMA Design Store in the SoHo renewal.
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Veracity Real Estate
E-store opens on Lafayette
Veracity Real Estate announced two Soho retail leases.
E-commerce bedding company Wright Sleep Co. signed its first retail location. at 188 Lafayette Street
Gregory Kim, of Veracity Real Estate, negotiated the 700 s/f lease.
Kim also negotiated on behalf of the lamdlord at 3 Mercer Street to lease 4,500 s/f of retail to Roll & Hill.
The contemporary Brooklyn-based lighting and design company signed a 10 year lease to occupy the entire building for showroom and office use.
Janet Liff, J. Liff Co. represented the tenant.
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Feil Organization
Maison Kayser rolls into Union Square
Maison Kayser will bring its world-renowned artisanal breads and baked goods to Union Square, signing a 15-year lease at 841 Broadway for its eighth location in Manhattan, announced The Feil Organization, the building’s owner and manager. Terms were not disclosed.
The bakery will occupy 3,003 s/f on the ground and mezzanine floors of the 108,000 s/f eight-level building, completing its retail portion, said Nicholas Forelli, Director of Leasing for Feil.
“The activity in and around Union Square is buzzing, and the demand for this location was extraordinary, allowing us to maximize the income,” Forelli said.
“While we were marketing this location, we had an overwhelming response from every food concept you can imagine. With its reputation for quality and unique product for this market, Maison Kayser was the best fit for the building and neighborhood.”
Founded by Eric Kayser in Paris in 1996, Maison Kayser is an authentic artisanal French Boulangerie, with bread and other baked goods mixed and baked on site all day long.
Paul Berkman and Davie Berke of JLL represented Maison Kayser, while Brian Feil, Vice President of Leasing and Mr. Forelli represented The Feil Organization.
Michael Greenberg of KLG Luz & Greenberg LLP provided legal counsel for Maison Kayser. Attorney for Feil was Michele Frankel.
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Cityvest Realty Corp.
Panda Express on prowl for more space
CityVest Realty Corp. president Mark Stempel announced that Panda Express, a restaurant chain, has leased a 14,000 s/f retail space at 835 Third Avenue at the corner of 51st Street.
“As New York City expansion a reality, we are thrilled to help them stake out territory in highly-trafficked Midtown Manhattan with this sprawling space,” said Stempel, who represented the property owner.
Cory Zelnik, president of Zelnik & Company, LLC, represented the tenant.
Privately owned Panda Express, a “fast casual” restaurant chain offering Chinese cuisine-inspired dishes, currently owns and operates over 1,800 locations around the world.
The chain is headquartered in Rosemead, California, and run by Andrew and Peggy Cherng.
The new Midtown location represents the continuation of plans for expansion in New York City.
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Colliers International
PC Richards to open 20,000 s/f Harlem store
Colliers International has arranged a long-term 20,000 s/f lease at 309 West 125th Street, with electronics and appliance retailer P.C. Richard & Son opening a new store in Harlem location.
Founded in 1909, P.C. Richard is the largest chain of private, family-owned electronics and appliances stores in the United States. The retailer is located in New York, New Jersey, Connecticut, and Pennsylvania, with the majority of its stores located on Long Island, Queens, and Brooklyn.
Its newest location is scheduled to open in the first quarter of 2016. The property is owned by Mitchell Enterprises.
Eric Meyer, a senior managing director with Colliers International, along with David Berke, of Cushman & Wakefield, represented the landlord in the transaction.
