Minskoff Equities had no troubling filling the office space at 51 Astor Place, but retail at the building remained vacant for years. Now, three more shops have taken space, nearly completing the leasing push that began in earnest with the signing of CVS Pharmacy in July.
Behind the story:
Edward J. Minskoff Equities
51 Astor Place
The developer, headed by Edward Minskoff, Announced That Bluestone Lane Coffee, Chop’t Creative Salad Company and cycling company Flywheel Sports have signed leases at the 400,000-square-foot East Village building.
51 Astor has about 24,000 square feet of retail space total. While the office portion of the tower hit full occupancy in May, CVS, its first retail tenant, only came aboard a few months later, in July, grabbing 11,500 square feet at SF Fumihiko Maki-designed building.
The exact square footage that each new tenant will take is unknown at this time, but, according to a press release, only one retail location now remains.
Patrick Smith, Corey Zolcinski and Matt Ogle of SRS Real Estate Partners represented Minskoff in the deal. Bluestone Lane Coffee, was represented by Jonathan Krieger of Robert K. Futterman and Associates, Chop’t Creative Salad Company was represented by Craig Hantgan of Esquire Properties, and Flywheel was represented by Matthew A. Seigel and Skye Taylor of Thor Retail Advisors.
The Korean Teachers’ Credit Union bought a 49-percent stake in the building last week, paying $600 million including debt. – Ariel Stulberg