Stonehenge puts Chelsea retail space on the block, after terminating small business leases

New York /
Aug.August 21, 2012 12:30 PM

Ofer Yardeni’s Stonehenge Partners has put a 5,300-square-foot retail space, which was previously the home to six small businesses on the Ninth Avenue stretch between 17th and 18th streets, on the rental market, DNAinfo reported. The firm seeks to have a sole tenant occupy the space, at 112 Ninth Avenue, in a 10-year deal. The opening is slated for 2013.

The retail space will operate out of the ground floor of a building that Stonehenge purchased last year from Fortuna Realty Group for $34 million. The tenants were supposed to be out of the building by the middle of this summer; however, some tenants told DNAinfo that they’re currently waiting for final word on when they need to leave and are operating under month-to-month agreements. Others have closed up shop.

Initially, the eviction notices drew anger from the businesses, which served the tenants of an affordable housing complex located across the street. As previously reported, Stonehenge is rumored to put a chain drug store in the combined space.

In addition to the retail marketing, Stonehenge will renovate 63 residential units in the building, at a price tag of $29,000 to $45,000 each. [DNAinfo] — Zachary Kussin


Related Articles

arrow_forward_ios
Stonehenge CEO Ofer Yardeni and 920 Park Avenue (Google Maps, Stonehenge)
Stonehenge Partners buys $135M UES rental building
Stonehenge Partners buys $135M UES rental building
340 East 51st Street and from left: Ofer Yardeni, Alex Rodriguez and Adam Modlin (Credit: Getty Images, Google Maps)
Alex Rodriguez partnership buys first New York apartment building
Alex Rodriguez partnership buys first New York apartment building
235 West 48th Street and Carlyle Group managing director Jason Hart (Credit: Google Maps and Carlyle Group)
Carlyle takes majority stake in Ritz Plaza rental building for $251M
Carlyle takes majority stake in Ritz Plaza rental building for $251M
Stonehenge’s Ofer Yardeni is singing a different tune on co-living
Stonehenge’s Ofer Yardeni is singing a different tune on co-living
Stonehenge’s Ofer Yardeni is singing a different tune on co-living
PHOTOS: NYC’s top real estate players gather for Rabin Medical event
PHOTOS: NYC’s top real estate players gather for Rabin Medical event
PHOTOS: NYC’s top real estate players gather for Rabin Medical event
Highlights from The Real Deal’s 15th anniversary bash
Highlights from The Real Deal’s 15th anniversary bash
Highlights from The Real Deal’s 15th anniversary bash
Stonehenge gets $132M refi for trio of rental buildings
Stonehenge gets $132M refi for trio of rental buildings
Stonehenge gets $132M refi for trio of rental buildings
69 West 14th Street
Famed eyewear company Moscot moving to 555 Sixth
Famed eyewear company Moscot moving to 555 Sixth
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...