The Real Deal New York

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

August 21, 2012 12:30PM

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