ABS Partners Real Estate has leased 31-79 Steinway Street to Bobby Buka Dermatology, a full-service dermatology practice with 10 locations across Manhattan, Brooklyn and Queens.
The asking rent was $90 psf. An affiliate of ABS owns 31-75 Steinway Street along with 31-79 Steinway Street and 32-46/48 Steinway Street.
“With over a dozen available competing retail spaces on Steinway we knew we had to be creative to make this deal,” said Howard Gilbert, executive managing director at ABS. “The lease structure itself, along with delivering the space in brand-new condition was a key contributing factor in securing this tenant.”
The ABS affiliate has acquired multiple properties in Brooklyn and Queens, areas that continue to attract a talented workforce and demographic.
“Being located on Astoria’s famous Steinway Street shopping area, the properties are well positioned to benefit from the continued evolution of the area,” said Alex Kaskel, managing director at ABS. “We look forward to working closely with the local brokerage community to unlock the full potential for these commercial properties and others.”
Steinway Street is 2.4-mile two-way stretch that runs north-south between Berrian Boulevard in Astoria and Northern Boulevard in Long Island City.
Michael Yadgard of Compass brokered the lease on behalf of the tenant. Alex Kaskel, Howard Gilbert and Mark Tergesen represented the landlord.