Cushman & Wakefield has been retained as the exclusive leasing agent for 8,500 s/f of retail space at 485 Seventh Avenue in the Penn Plaza/Garment District submarket.
The 240,000 s/f, 16-story office property, also known as the Fashion Atrium, was built in 1906.
The available block of retail space consists of 1,500 s/f on the ground floor and 7,000 s/f on the mezzanine.
Leading the marketing efforts on behalf of the landlord, Eretz Group, is the Cushman & Wakefield’s Joanne Podell and Brandon L. Singer and team.
Situated at the northeast corner of 36th Street, the location is ideal for a variety of uses including financial institutions, fitness concepts, white table cloth restaurants, quick service restaurants, apparel, or high-end electronics, say the brokers.
The space, which is available for long-term lease, is currently the lobby of the building, which will be
repositioned to the side street.
The Fashion Atrium offers in-building parking facilities and accessibility to Penn Station, and the 34th Street and Times Square subway lines.
“We have seen tremendous activity in the Penn Plaza area, with many retailers seeking space in the district,” said Podell, a Cushman & Wakefield vice chairman.
“The space at 485 Seventh Avenue is highly visible and is well-suited for a wide range of retail uses.”
Added Singer, “This space is one of only several available in a much sought after submarket — which features significant and steady foot-traffic along the Seventh Avenue corridor near Penn Station.
“Ownership is firmly committed to the property and recent renovations keep it at the forefront of building design in a highly competitive leasing market.”