The Real Deal New York

Lightstone taps Winick to market Bryant Park retail cube

Asking rents for ground floor space at 1407 Broadway pegged at $350 a foot

March 13, 2014 05:00PM
By Katherine Clarke

A rendering of the retail space at 1407 Broadway

A rendering of the retail space at 1407 Broadway

The Lightstone Group has hired retail brokerage Winick Realty Group to market a prospective 22,000-square-foot retail cube at the base of an office tower near Bryant Park, a Winick spokesperson told The Real Deal today.

The firm is seeking high-tech and fashion tenants to lease the property, at 1407 Broadway, which will combine four existing storefronts on the corner of 38th Street and Broadway.

The space includes an 8,338-square-foot ground floor with 18-foot ceilings, a 6,176-square-foot second floor with 12-foot ceilings and a 7,670-square-foot selling lower level with 15-foot ceilings, the spokesperson said.

“For years, the retail in the neighborhood lagged behind” said Winick broker Hal Shapiro, who is marketing the place with colleague Kenneth Hochhauser. “As the neighborhood transitions into a venerable Times Square South, the retail is attracting a savvier and more modern class of tourists and office workers, and we hope to further reflect that change with the leasing of 1407 Broadway.”

Asking rents for the space are $350 per foot for the ground floor, $100 a foot for the second floor and $75 a foot for the lower level, Winick said.

The Lightstone Group is slated to install a floor-to-ceiling glass façade on the space to provide the incoming retailer with an opportunity for massive signage, Winick said.

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