Modell’s set to open flagship store at Rudin’s 845 Third Avenue

The space was formerly home to now-bankrupt retailer Sports Authority

New York /
Oct.October 26, 2016 10:47 AM

To the victors go the spoils.

Modell’s Sporting Goods is leasing 21,000 square feet at 845 Third Avenue for its new flagship, filling the space once occupied by its now-bankrupt rival Sports Authority.

The 21-story  building, which is at the northeast corner of East 51st Street, is owned by Rudin Management. Modell’s new space will span across the ground and second floors, and will also include storage in the basement. Asking rent for the ground floor is $250 per square foot, the New York Post reported. Robert Steinman represented Rudin Management in-house.

The lease is for 10 years and was signed on Monday. Chief Executive of Rudin Management, Bill Rudin, reached out directly to Modell’s Chief Executive Mitchell Modell, a longtime friend, the Post reported.

Sports Authority filed for bankruptcy in March.

Modell’s ultimately rejected a joint bid with U.K.-based Sports Direct that would have divvied up all of the Sports Authority stores. Competitor Dick’s Sporting Goods took the leases of 28 stores, but handed the 845 Third Avenue location back to Rudin. [NYP]Miriam Hall


Related Articles

arrow_forward_ios
Illustration of Amazon's Jeff Bezos (Photo illustration by Kevin Rebong for The Real Deal)
No room in the warehouse: Amazon fuels shortage
No room in the warehouse: Amazon fuels shortage
RXR Realty's Scott Rechler with 75 Rockefeller Plaza (Getty, David Shankbone/Wikimedia)
RXR Realty serves American Girl with a lawsuit
RXR Realty serves American Girl with a lawsuit
Manhattan Borough President Gale Brewer and Helen Rosenthal (Getty, iStock)
New bill would mandate retail lease renewals in NYC
New bill would mandate retail lease renewals in NYC
Gov. Andrew Cuomo and Mayor Bill de Blasio (Getty)
De Blasio and Cuomo clash over reopening the city
De Blasio and Cuomo clash over reopening the city
(Getty)
Retail landlords still suing over skipped rent
Retail landlords still suing over skipped rent
Lawsuits, interrupted: Judges nix business pandemic insurance claims
Lawsuits, interrupted: Judges nix business pandemic insurance claims
Lawsuits, interrupted: Judges nix business pandemic insurance claims
After closing hundreds of stores, Starbucks is growing again. (Getty)
Higher profits brewing for prolific retail tenant Starbucks
Higher profits brewing for prolific retail tenant Starbucks
(iStock)
Restaurants can apply for $29B in relief starting May 3
Restaurants can apply for $29B in relief starting May 3
arrow_forward_ios

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

Loading...