Real Estate Weekly
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Retail

RETAIL ROUNDUP: Banshee replaced by new spirit seller

● ABS PARTNERS
Pharmacy, studio joins Third Avenue revival

MARK TERGESEN

ABS Partners Real Estate secured two retail leases on behalf of the ownership at co-op buildings located along the Third Avenue retail corridor in Gramercy Park.
The firm arranged a 10-year, 1,700 s/f lease for David’s Pharmacy at the Gramercy Park Towers at 205 Third Avenue, as well as a five-year, 1,200 s/f ground floor retail lease for AR Workshop, a boutique studio offering home décor classes, at 232 Third Avenue.
Mark Tergesen of ABS Partners represented ownership at 205 Third Avenue. He also represented the landlord at 232 Third Avenue, along with Dean Valentino of ABS Partners, bringing the retail space at the base of both co-op residential buildings to full occupancy.
“As retail activity along Third Avenue picks up, with many new buildings opening and set to come online in 2019 and 2020, we sought tenants who not only fit the neighborhood demographic but have a chance to thrive amidst the changing retail landscape,” said Tergesen, noting that both leases move the tenants into their first Manhattan locations.
Jason Turner at Zelnik & Company represented AR Workshop.

● MERIDIAN RETAIL LEASING
Banshee replaced by new spirit seller

James Famularo

Meridian Retail Leasing arranged a long-term lease for a high-end cocktail bar at 1373 First Avenue on the Upper East Side.
President of New York Retail Leasing, James Famularo, and director Eliot Goldschmidt, represented the landlord and the tenant.
1373 First Avenue is a 1,100 s/f space located between East 73rd and East 74th Streets with 28 ft. of frontage. The property was previously occupied by The Banshee Pub, which closed in 2018 after more than 10 years.
A high-end cocktail bar will be moving into the space this summer, joining neighborhood tenants including Bareburger, Campagnola, Numero 28, Starbucks, Pony Bar, Finnegan’s Wake, and Jones Wood Foundry.

● KATZ & ASSOCIATES
Blink opens in Bed-Stuy

Brian Katz, CEO of Katz & Associates, announced a new lease at 1134 Fulton Street in Bedford Stuyvesant.
Blink Fitness will occupy 15,100 s/f in the new mixed-used building.
Scott Sher facilitated the long-term lease on behalf of the landlord while Ezra Saff, of The Retail Zone, represented Blink Fitness in the deal.
This Class A development is comprised of 35,000 s/f of retail and 200 residential units. With a second strong lease nearing completion, only 4,000 s/f remain available.

● THE FEIL ORGANIZATION
Swim school takes a dive into Queens

NICHOLAS FORELLI

Goldfish Swim School will open in the newly renovated Glen Oaks Shopping Center, occupying 9,660 s/f of the 187,650 s/f retail center, announced The Feil Organization, the open-air center’s owner and manager.
The new 10-year lease brings the retail center to 99 percent leased.
Glen Oaks Shopping Center consists of three buildings over a five-block span situated in the easternmost portion of Queens near the Nassau County border.
“The shopping center’s location was a perfect fit for both the tenant’s expansion plans and the type of experiential retail use we were looking to bring into the property,” said Nicholas Forelli, director of leasing, who represented Feil.
Steve Gillman from The Shopping Center Group (SCG) represented the tenant.
Built in 1948, Glen Oaks has been recently updated with a multimillion-dollar façade renovation.

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