Chetrit taps RKF to market 44K sf retail space at 65 Broadway

Landlord received city approval to double Broadway frontage at landmarked 21-story FiDi building

TRD NEW YORK /
Apr.April 29, 2016 07:30 AM

The Chetrit Group is tapping RKF to market 43,600 square feet of retail space at the former American Express Building, at 65 Broadway in the Financial District.

The century-old, 21-story office building’s retail component consists of 8,500 square feet of space on the ground floor, as well as 12,000 square feet on the lower level, 3,100 square feet on the mezzanine level and 20,000 square feet on the second floor.

ChetritTRData LogoTINY received approval from the city to move the landmarked, neoclassical-style building’s northern entrance in order to double the total retail frontage on Broadway, to 56 feet from 28 feet previously.

RKFTRData LogoTINY said it is targeting “a varied group” of potential tenants to occupy the space, including big-box retailers, department stores, luxury brands, fitness concepts and restaurants. An RKF team led by chair and CEO Robert Futterman, senior associate Andrew Stern and associate Michael Paster is marketing the location.

Chetrit previously owned 65 BroadwayTRData LogoTINY, located between Rector Street and Exchange Alley, jointly with AM Property Group before buying out AM in 2014 in a transaction that valued the 350,000-square-foot building at roughly $140 million, according to Crain’s.

The Downtown Broadway retail corridor has heated up recently, with CBRE reporting that increased demand for retail space along the corridor had resulted in asking rents jumping 55 percent quarter-on-quarter at the end of last year – to $449 per square foot from $290 per square foot previously in the third quarter of 2015.

The Real Deal first reported Monday that Chetrit is abandoning the condo conversion project at the Sony building at 550 Madison and selling the office property to the Olayan Group for over $1.3 billion.


Related Articles

arrow_forward_ios
Clockwise from top left: 312 West 34th Street, 61 North 9th Street, 639 Classon Avenue, and One Fulton Square (Credit: Google Maps)

These were the top 10 NYC retail leases in July

Robert Futterman charged with DUI in Hamptons car crash

Robert Futterman charged with DUI in Hamptons car crash

Ricky's at 830 Broadway (Credit: NYC Go)

Ricky’s, iconic NYC beauty shop, faces
more closures

Mayor De Blasio distributes information on the coronavirus (Credit: Jeenah Moon/Getty Images)

As coronavirus impacts small businesses, city offers financial relief

Joseph Chetrit and 88-20 153rd Street (Credit: Getty Images, Google Maps)

Chetrit plans fifth apartment building at Jamaica hospital site

595 Madison Avenue (Credit: Vornado)

Coach abruptly shuts doors at Vornado’s 595 Madison

Jeff Sutton and the Prada storefront at 724 Fifth Avenue (Credit: Google Maps)

Prada gives landlord Jeff Sutton a lawsuit for Christmas

McDonald's at 429 Seventh Avenue (Credit: Google Maps)

McDonald’s sells Midtown retail building for $35M

arrow_forward_ios
Loading...