Food spots devour half of the 10 biggest NYC retail leases signed in May

By Gina Moreno | June 08, 2017 08:00AM

May's top 10 retail leases in New York City
RankAddressSq. ft.NeighborhoodTenantTenant representativeLandlordLandlord RepresentativeEst. ppf
1532 Neptune Avenue38,000Coney IslandNetCost MarketHUDSON, Jason GerbsmanCammeby's International GroupWinick Realty Group, Lee Block, Darrell Rubens, Jeff Winickn/a
2Building 1 at Halletts Point24,036AstoriaBrooklyn Harvest MarketLee & Associates NYC, Richard Kave, Garry SteinbergDurst OrganizationDurst Organization, Ashley Gee, David Neiln/a
3432 East 14th Street22,701East VillageTrader Joe'sn/aMack Real Estate Group, Benenson Capital Partnersn/a$150/ft
4597 Fifth Avenue13,000MidtownLululemon AthleticaRKF, Jeremy Ezra, Karen BellantoniThor Equitiesn/a$400,000/mo
5347 10th Avenue11,000Hudson YardsD&D Londonn/aThe Related Companies, Oxford Properties GroupRelated Urban, Webber Hudson, Kevin Stuessin/a
6570 Lexington11,400East MidtownUrbanspaceCBRE, Amira Yunis, Anthony StanfordFeil OrganizationFeil Organization, Nicholas Forelli, Randall Briskin$1,500,000 /yr
7200 Varick Street10,500Hudson SquareFilm Forumn/aNewmark HoldingsNewmark Holdings, Donna Vogel$200/ft
812442 Flatlands Avenue9,995East New YorkDollar TreeRipco Real Estate Corporation, Richard Senior, Esther BukaiHudson CompaniesRipco Real Estate Corporation, Richard Senior, David Goldschmidt, Chris Walthern/a
9655 6th Avenue9,400ChelseaJennifer FurnitureJ.W. Burke & Company, Jonathan BurkeUnited American LandUnited American Land$60/ft
1079 Quay Street 6,500GreenpointSteep Rock BoulderingAll Points Real Estate, James MonteleoneQuay Plaza LLCAll Points Real Estate, James Monteleone$24/ft
Source: The Real Deal research of news reports and submitted deals published or received last month.

With apparel retailers feeling the squeeze from online competition, grocers, food halls and restaurant tenants accounted for five of the 10 biggest retail deals inked in the city during month of May. The 10 biggest retail lease deals signed last month totaled 156,532 square feet, and the five food-focused tenants accounted for 107,000 square feet — 70 percent — of that figure.

In addition, four of the largest retail deals inked last month were outside Manhattan, with three in Brooklyn and one in Queens.

1) NetCost Market, 532 Neptune Avenue, Coney Island — 38,000 square feet
The Russian grocery chain, which has six other locations in the city, signed a new lease to take the ground floor of Cammeby’s International’s upcoming 40-story mixed-use tower at the site of the Trump Village Shopping Center. Lee Block, Darrell Rubens, and Jeff Winick of Winick Realty Group represented landlord Cammeby’s International in the lease deal. Jason Gerbsman of HUDSON represented the tenant. Asking rents were not disclosed.

2) Brooklyn Harvest Market, Building 1 at Halletts Point, Astoria — 24,036 square feet
The supermarket mini-chain is opening its third branch in the city at the Durst Organization’s 2.4-million-square-foot Halletts Point megaproject in Astoria. The first tower, with 405 apartments, is set to open in early summer of next year, with the supermarket opening shortly thereafter. Lee & Associates NYC’s Richard Kave and Gary Steinberg represented Brooklyn Harvest Market, and Ashley Gee and David Neil were the in-house reps for Durst.

3) Trader Joe’s, 432 East 14th Street, East Village — 22,701 square feet
The California-based crunchy grocery chain signed a 22,701-square-foot lease to take two levels at Mack Real Estate and Benenson Capital Partners’ mixed-use project at 432 East 14th Street in the East Village. In a document filed with the city, the developers said they expect to receive about $2.3 million a year in retail rent.

4) Lululemon Athletica, 597 Fifth Avenue, Midtown — 13,000 square feet
The Canadian-athletic apparel retailer, which is expected to open the “pop-up” store in late July, signed a new one-year lease at Thor Equities’ 597 Fifth Avenue for a reported $400,000 a month. The space covers 8,000 square feet of the ground floor, balcony and mezzanine levels, plus about 5,000 square feet below grade. The tenant was represented by Jeremy Ezra and Karen Bellantoni of RKF.

5) Urbanspace, 570 Lexington, East Midtown — 11,400 square feet
Trendy food hall Urbanspace will be opening its second location in East Midtown, inking a deal for three floors at the Feil Organization’s 570 Lexington Avenue. The space will house 19 vendors. The approximate yearly rent is said to be at $1,500,000. Ubanspace, which has another food hall at 230 Park Avenue, was represented by CBRE’s Amira Yunis and Anthony Stanford. The Feil Organization was represented in-house by Nicholas Forelli and Randall Briskin.

6) D&D London, 347 10th Avenue, Hudson Yards — 11,000 square feet
The British-based restaurant group D&D London will be opening its first New York location at the Shops & Restaurants at Hudson Yards. The restaurant — which will have an all-day cafe — will occupy the 11,000 square feet space on the fourth floor of the building, which is to be anchored by Neiman & Marcus. The restaurant is expected to debut in 2018. Related Companies’ Webber Hudson and Kevin Stuessi represented the landlord in-house.

7) Film Forum, 200 Varick Street, Hudson Square — 10,500 square feet
The nonprofit cinema, which displays indie flicks, art films, international documentaries, and even the classics, renewed its lease for the three- screen theater it’s called home since 1990. The asking rent was $200 per square foot. The landlord, Newmark Holdings, was represented in-house by Donna Vogel.

8) Dollar Tree, 12442 Flatlands Avenue, East New York — 9,995 square feet
The Virginia-based chain, which sells items on the cheap, has signed a new lease in East New York, Brooklyn. Ripco Real Estate Corporation’s Richard Senior and Esther Bukai represented Dollar Tree, while the same brokerage’s team of Richard Senior, David Goldschmidt and Chris Walther represented the landlord, Hudson Companies.

9) Jennifer Furniture, 655 6th Avenue, Chelsea — 9,400 square feet
The national furniture company signed a 10-year lease for 900 square feet on the ground floor and 8,500 square feet below grade. Asking rent on the space below-grade was $60 per square foot. J.W. Burke & Company represented the retailer in the lease. Landlord United American Land was self-represented.

10) Steep Rock Bouldering, 79 Quay Street, Greenpoint — 6,500 square feet
The East Harlem-based rock climbing facility signed a five-year lease in Greenpoint at 79 Quay Street, where asking rents were reportedly $24 per square foot. The 6,500-square-foot space includes the 23-foot-tall ground level as well as below-grade space. James Monteleone from All Points Real Estate represented both the tenant and the owner, Quay Plaza LLC.