Newmark Knight Frank is bringing a 25,000 s/f corner retail space in the newest AvalonBay development to market.
The brokerage has been named exclusive leasing agent for the space at 282-298 Eleventh Avenue near the High Line Park in Chelsea.
The property, currently under development by AvalonBay Communities, will offer up to 25,000 s/f of corner retail space at the base of a mixed-use development that will include more than 700 residential units.
Newmark Knight Frank senior managing directors Ross Kaplan and Stu L. Morden are heading up the leasing team.
“This space represents an incredible opportunity, right in the heart of West Chelsea — a neighborhood that’s been gaining popularity for years with a more affluent demographic,” Kaplan said.
“This new construction is breaking ground this year, and we estimate that the retail space will be available in early 2013. The space is large enough to accommodate an upscale supermarket as well as boutiques, restaurants and galleries.”
The space will have 310 linear feet of frontage along West 28th Street, and 45 feet along Eleventh Avenue, and 19-foot ceiling heights. The property includes a 140-car parking garage.
“By the time this new development is completed,” Morden predicted, “the High Line will be bringing more and more people into the neighborhood: residents, people from other parts of the city, and visitors from out of town.
“This new building will serve as an axis point, and its retail space will be some of the most coveted in the city. Retail is all about location, and location is one of several key benefits to this property.”