Gap renews 46,000-square-foot Flatiron District lease

TRD New York /
Sep.September 23, 2010 04:00 PM
The three adjacent buildings where the Gap renewed it lease at 120 Fifth Avenue, 122 Fifth Avenue and 126 Fifth Avenue; the landlord’s broker Nicholas Haines

Retailer the Gap extended its long-term lease on lower Fifth Avenue for 10 years, in what brokers said was the largest retail deal on the avenue south of Madison Square Park between 14th and 23rd streets this year. The extension will begin Jan. 1.

The Gap occupies a combined 46,000 square feet in three adjacent buildings, between 17th and 18th streets, in the Flatiron District. The clothing retailer leased 35,000 square feet at 120 Fifth Avenue and 122 Fifth Avenue, both owned by the Bromley Companies, where it has been a tenant for two decades. It leased 11,000 square feet at 126 Fifth Avenue, owned by 126-8 Fifth Avenue LLC. It moved into 126 Fifth Avenue 12 years ago as a subtenant of Barnes & Noble. It was the book retailer’s first store in New York City.

At the Bromley properties, Nicholas Haines, executive vice president at the firm, represented the owner while the Gap was represented by the retailer’s in-house real estate department. At 126 Fifth Avenue, Ariel Schuster and Izzy Anthony of Robert K. Futterman & Associates represented the Gap, and Marco Ellman, of Ellman Realty Advisors, represented the landlord. The leases were signed in late June. 

 

Related Articles

arrow_forward_ios
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

CoStar reaches $11M settlement in copyright infringement suit against Xceligent

620 Sixth Avenue and RXR Realty's Scott Rechler (Credit: Getty Images, RXR Realty)

RXR gets $400M+ from Goldman Sachs to refi Sixth Avenue building

A New York court’s greenlight of a class action against Big City Realty could change the dynamic of class action suits. (Credit: iStock)

“Nightmare” for landlords: Court OK’s class action against Harlem owner

WeWork founder scrambled for $100M loan before $1.7B bailout

The Daily Digest - Tuesday

WeWork’s cash flow troubles, selling NYCHA’s air rights and more: Daily digest

arrow_forward_ios