Jerry’s Artarama is coming to New York. The 15-store art-supply chain, which is headquartered in Raleigh, N.C., has signed a 10-year lease for 4,452 s/f of ground floor space at 111 Fourth Avenue. Asking rent for the deal was $125 psf.
Jerry’s is expected to open in early December. It will replace Utrecht Art Supply, which had been in the space for 30 years.
Steve Rappaport, the Sinvin Real Estate broker who represented Jerry’s, noted that the spot is convenient for the art students of Parsons, New York University and Cooper Union, which are all nearby.
Gregory Gang, the Tarter Stats O’Toole broker who, along with colleague Catherine O’Toole, represented the ownership, Fourth Avenue Owners Corp., said the site’s 19 ft. ceilings, 45 ft. of frontage and proximity to Union Square Park were some of the many reasons retailors found the space so appealing.