World champion gymnast Paul Ruggeri will be opening a gymnastics studio in a 3,000 s/f retail condo at 356 Broadway between Leonard and Franklin Streets in Tribeca after signing a lease arranged by the Famularo Team at Eastern Consolidated.
James Famularo, Senior Director and Principal at Eastern Consolidated, and Ted Lundeen, Associate Director, negotiated the 10-year lease on behalf of Imperial Development, the owner of the retail space which is situated at the base of a five-story residential condominium. Joshua Birkin of Nest Seekers represented the tenant.
“Tribeca is a perfect neighborhood for a gymnastics studio because so many young families are moving into the area’s new residential developments,” Famularo said.
“Across the street from 356 Broadway, Toll Brothers City Living is developing a 111-unit luxury residential building, which will be a great addition to the 31,000 residential units already available downtown.”
Lundeen added, “This storefront offers 20 feet of frontage on Broadway, full-height glass windows, and 18-foot high ceilings, making it ideal for use as a gymnastics studio. The space was especially appealing because rents on this section of Broadway are more affordable than those along the SoHo or FiDi sections of Broadway.”
