R&F snaps up former Circuit City space

August 05, 2009 09:14AM

Several large retail spaces that have come onto the market following bankruptcies are being leased, the New York Post reported. Raymour & Flanigan, a furniture retailer, has signed a lease for a 33,000-square-foot store at 1961 Broadway, at the corner of West 66th Street, part of a larger space that housed the former Tower Records, and was most recently occupied by Circuit City. R&F waited for bankruptcy court proceedings to be completed for the space so that they could negotiate a lower rent with the building’s owner, Millennium Partners. The asking rent for a 10-year lease was $4 million, which works out to $100 per square foot on the second floor and $300 per square foot on the ground floor.

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