Short-term tryout brings long-term tenant to Chelsea Market

Landlord Jamestown offers temporary "residency" to interested retailers

New York /
Mar.March 31, 2014 11:15 AM

The owner of Chelsea Market has recently found success in allowing tenants to try out properties before signing on long-term.

Jamestown, which owns the former loading dock on the corner of West 15th Street and 10th Avenue that tenant Artists & Fleas will occupy, allowed the marketplace for artists, designers and high-end vintage retailers to set up shop for short periods of time last year. Now, the Georgia-based real estate company has inked a five-year lease with Artists & Fleas’ founding couple, Ronen Glimer and Amy Abrams, for 4,068 square feet, the Wall Street Journal reported.

The Williamsburg-born outfit’s first Manhattan location opened in December 2011 at 75 Ninth Avenue for two weeks, then signed on for two three-month terms in 2012 and then from June 2013 to January of this year, according to the paper. Glimer described the last stay to the Journal as a “residency.”

“You do want to test and see if they can be successful long-term, whether they bring something unique to it,” Michael Philips, Jamestown’s chief executive, said to the Journal. “If you’re figuring out a concept it’s hard to commit to a five-year lease.”

The eight-story, mixed-use building offers more than 100,000 square feet of retail space, according to PropertyShark. Current tenants include Google, which recently added more than 17,000 square feet to its lease for about $65 per square foot, as previously reported[WSJ]Angela Hunt


Related Articles

arrow_forward_ios
Durst Organization's Douglas Durst, Jamestown's Michael Phillips and One Times Square (Durst Organization, Jamestown, Getty, Bernt Rostad from Oslo, Norway edited by Yarl/CC BY 2.0/via Wikimedia Commons)
Durst sues Jamestown over Times Square scaffolding
Durst sues Jamestown over Times Square scaffolding
Jamestown chairman Christoph Kahl and One Times Square (Jamestown LP, iStock)
Jamestown lands $425M to bring the metaverse to One Times Square
Jamestown lands $425M to bring the metaverse to One Times Square
Pier 57 in Chelsea. (Google)
Google opens new Pier 57 to employees, public
Google opens new Pier 57 to employees, public
Google to open second retail space in Williamsburg at 134 North 6th Street (Google Maps)
Google to open retail store in Williamsburg
Google to open retail store in Williamsburg
Apple CEO Tim Cook and Apple Park in Cupertino (Getty)
Apple sets April 11 return-to-office deadline for US corporate employees
Apple sets April 11 return-to-office deadline for US corporate employees
Google CEO Sundar Pichai (Getty, Google)
Google to bring workers back to offices starting early next month
Google to bring workers back to offices starting early next month
From left: Sundar Pichai, chief executive officer, Alphabet; Mark Zuckerberg, founder, Meta; 550 Washington Street (Getty Images, LoopNet)
Big Tech holds firm bet on the future of offices
Big Tech holds firm bet on the future of offices
Google buying London office for $1B
Google buying London office for $1B
Google buying London office for $1B
arrow_forward_ios

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

Loading...