Fourth generation family business, Long’s Bedding & Interiors Inc. has leased new retail space at 1220 Third Avenue.
Peter Braus, managing principal, Greg Tannor, executive vice president/principal and JP Sutro, executive managing director of Lee & Associates NYC negotiated the 6,165 s/f lease.
The new space will consist of 4,540 s/f on the ground floor and 1,625 s/f on the lower level. In operation since 1911, the bedding company is expanding from its current outpost at 121 West 72nd Street, due in large part to a need for additional square footage.
“Long’s is a terrific, family-owned business,” explained Braus, whose leasing team represented both the tenant and ownership.
“Their move to Third Avenue is a demonstration of the continuing strength of this corridor. The high-density, high-income demographics are ideal for Long’s. Ownership was very proactive and responded to the tenant’s needs and we were delighted to help forge a long-term, mutually-beneficial partnership. I believe Long’s is an ideal tenant for Townsend House.”
1220 Third Avenue is located near the 6 and Q subway lines. Surrounding retailers include the new Target being built across the street, a new Morton Williams being built a block away, Anthropologie, Nike, lulelemon, Pottery Barn Kids and Swerve Fitness.
Long’s Bedding is expected to open in the third quarter of 2019 following an extensive build out.
The landlord is The Townsend House Corporation and the lease term is “a long one”. Asking rent was $185 psf.
