The summer slowdown hit retail leasing in New York City during the month of August. Last month’s activity stalled significantly when compared to prior months.
The 10 biggest retail lease deals signed last month totaled 185,153 square feet, down 34,789 square feet from July’s total of 219,942 square feet. The largest retail lease in August was inked in the Bronx.
Check out the list of the top 10 below:
1) Burlington, 2948 3rd Avenue, Melrose – 55,000 square feet
The apparel company inked a lease for 55,000 square feet of retail space at 2948 3rd Avenue. CNS Real Estate’s Cliff Simon represented Burlington in the deal. Alex Adjmi and Bobby Cayre own the property, known as “the Hubb.”
2) Toys R Us, 1466 Broadway, Midtown – 35,000 square feet
The toy giant is returning to Times Square for the holiday season, opening a pop-up space for 35,000 square feet at 1466 Broadway. The store will span three levels. Invesco paid $196 million for a majority stake in the retail portion of the building, which is also known as the Knickerbocker.
3) Marshall’s, 2948 3rd Avenue, Melrose – 25,000 square feet
The discount retail chain inked a lease for 25,000 square feet of retail space at 2948 3rd Avenue. Marshall’s is joining fellow retailer, Burlington, at this space. Esther Bukai of Ripco Real Estate represented the tenant in this deal. Bobby Cayre and Alex Adjmi are the landlords of this property.
4) Champs Sports, 1441 Broadway, Midtown – 20,000 square feet
The athletic wear retailer signed a lease for 20,000 square feet of retail space at 1441 Broadway. Mark Finkelstein of Retail Strategies represented the tenant, while Steven Robinson, Amy Zhen, David Berke and Robert Gibson, all of JLL, represented the landlord, Lechar Realty.
5) C-Town, 1800 Park Place, Crown Heights – 17,721 square feet
The grocery store inked a 20-year lease at 1800 Park Place in Crown Heights for 17,721 square feet. C-Town signed the lease, with asking rents checking in at $30 per square foot. New Street Realty Advisors’ Joshua Gettler and Matthew Gorman represented the tenant and the landlords, Rosenberg Housing Group, Duvernay + Brooks, Blue Sea Development and Pennrose Properties.
6) Powerhouse Gym, 30-30 Northern Boulevard, Long Island City – 10,323 square feet
The fitness center signed a 10-year lease at 30-30 Northern Boulevard in Long Island City for 10,323 square feet. Andrew M. Weiss Jr. of Signature Partners represented the tenant. Cushman & Wakefield’s Bruce Mosler, Mitch Arkin and Joe Grotto represented the landlord, Alma Realty. Asking rents on the space were $50 a square foot.
7) Changing Tomorrow Child Center, 257 Gold Street, Downtown Brooklyn – 8,000 square feet
The child care center signed a lease at 257 Gold Street in Downtown Brooklyn for 8,000 square feet of retail space, with asking rents reportedly at $33 per square foot. All Points Real Estate’s James Monteleone represented the tenant and the landlord, Kahn Properties, in this deal.
8) Tavares Strachan, 259 West 30th Street, Midtown South – 5,900 square feet
The Bahamian artist signed a lease for 5,900 square feet in Midtown South. The space will serve as a studio, and includes ground floor space, a basement and mezzanine space. Philip Katz of Katz NYC represented the tenant.
9) Capital One Bank, 1745 Broadway, Hell’s Kitchen – 4,369 square feet
The national bank signed a 15-year lease for 4,369 square feet of retail space in Hell’s Kitchen, with asking rents reported at $350 per square foot. Barry Fishback of RKF represented the tenant. Lincoln Property Company’s Chris Whitman represented the landlord, Dido Realty.
10) Anchor Bar, 327 West 57th Street, Hell’s Kitchen – 3,840 square feet
The buffalo wing chain inked a lease for 3,840 square feet of retail space at 326 West 57th Street in Hell’s Kitchen. Elena Samasiuk of Commercial Spaces Group represented the tenant, while Emilian Derguti, also of Commercial Spaces Group, represented the landlord, identified as 327 West 57th Street LLC.