Cohen goes solo to market 130K sf of Midtown retail

March 05, 2013 01:30PM

Landlord Charles Cohen, the owner of 135 East 57th Street, has decided to market two large retail spaces at the Midtown office tower himself, rather than turn to several brokers he had previously enlisted to arrange the leasing, the New York Post reported.

Cohen had faced an uphill battle finding a retail tenant at the property because of a Daffy’s location next door, the Post said. The discount apparel retailer, which is in the process of closing up shop, had scared away luxury retailers from moving close by. Cohen now controls the former Daffy’s space, which spans 56,000 square feet on three levels and creates the potential for one single retail block for a single luxury brand occupant. The space is up for grabs for $6 million annually.

The remaining 74,308 square feet of retail at 135 East 57th Street is available for $9.7 million annually.

Cohen is being advised by Gilbert Harrison, founder of Financo, an investment bank with a specialty in retail and apparel. Previously, Cohen enlisted the help of Faith Hope Consolo of Douglas Elliman and Bradley Mendelson of Cushman & Wakefield.

Cohen also controls the 39,000-square-foot retail space at 465 Park Avenue, the Ritz Tower co-op building, which just got its first deal. The concourse level will be occupied by the Surgery Center of Manhattan. This lease leaves 25,841 square feet on three levels. [NYP, 2nd item]Zachary Kussin