The Real Deal New York

Retail space in Artimus rental available for lease

April 13, 2012 04:30PM
By Guelda Voien

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A rendering of 320 Eighth Avenue

At least 23,000 square feet of retail space in an under-construction residential tower at 320 Eighth Avenue is now on the market, according to a statement today from Winick Realty, the exclusive marketer for the space. Located at 26th Street in Chelsea, the property includes 18,000 square feet of ground floor space asking $95 per square foot, while a 5,000-square-foot basement space is asking $40 per square foot.

Alex Hill, one of the property’s exclusive brokers, said the basement space could be expanded to as much as 18,000 square feet. The ground floor and basement spaces could be rented together or separately and would work well for a gourmet supermarket, he said.

Hill added that such large retail spaces rarely become available in Chelsea.

The available retail is located in a new residential building that will rise 12 stories upon its completion. The project, which is constructed up to the sixth floor as of now, will offer 207 studio, one-bedroom and two-bedroom rental apartments and was developed by a joint venture of the property owner — 260 West 26th Street LLC — and Artimus Development. Artimus’ other projects include Fifth on the Park, the Harlem condominium that saw a closely-watched landmark Interstate Land Sales Full Disclosure Act case in 2010.

The ground floor retail space offers 200 feet of frontage on Eighth Avenue and a loading dock. Hill indicated that the basement space has 12-foot ceilings, making it viable as commercial space. He also said the ground floor space could be carved up to house more than one user.

Hill said that there were numerous “fitness users,” interested in the space and at least one gourmet market.

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