International candy and novelty retailer IT’SUGAR has leased 2,747 s/f on the ground floor of The Gotham, a 25-story luxury residential condo building at 1542 Third Avenue between 86th and 87th Streets, announced Anthony Malkin, president of Malkin Properties, which owns the entire retail portion of the building.
IT’SUGAR, which specializes not only in candy, but also in candy-inspired fashion, accessories and novelty gift items, signed a 10-year lease for a space next door to AMC Loews Theater and facing a new Whole Foods directly across Third Avenue, scheduled to open in 2014.
Founded in 2006, IT’SUGAR has quickly grown into one of the leading candy retailers, with over 40 retail stores in such U.S. hotspots as New York, Los Angeles, Miami, Scottsdale, Palm Beach, Baltimore, Atlantic City and Myrtle Beach, and in international destinations, such as Grand Cayman, Dubai, and London.
“The 86th Street corridor has been attracting more and more prestigious retailers in recent years, making it a major destination for quality shopping in Manhattan,” said Malkin, who added that IT’SUGAR’s neighbors, besides the multiplex movie theater, include women’s shoe retailer Aldo, The Gap, H&M, L’ Occitane, Sephora, Shake Shack, Steve Madden and Victoria’s Secret.
The remaining retail availability at The Gotham is a corner space on 87th Street and Third Avenue.
The space contains 1,953 s/f and includes 29 feet of frontage on Third Avenue, up to 18-foot ceiling heights and 850 square feet of available lower-level storage.
“The space and area are a retailer’s dream,” said Malkin. “This is the center of a densely populated, affluent community and just a block from a very busy IRT subway station at Lexington Avenue and 86th Street.”
The tenant was represented by Jeremy Ezra of Robert K. Futterman & Associates.