The retail leasing summer slowdown in New York City has continued into the fall.
The 10 biggest retail lease deals made public last month totaled 157,392 square feet, down 27,761 square feet from last month’s total of 185,153 square feet. The largest retail lease in September was for an entertainment space in Times Square.
1) Parques Reunidos, 11 Times Square, Midtown – 45,000 square feet
The Madrid-based entertainment center developer inked a 15-year lease for 45,000 square feet of retail space at 11 Times Square. This location will boast 13 attractions. Robert K. Futterman, Joshua Strauss and Scott Zinovoy of RKF represented the tenant and landlord, SJP Properties.
2) Sparks Steak House, 210 East 46th Street, Midtown East – 22,924 square feet
The famous steakhouse renewed its lease for 15 years for just under 23,000 square feet at 210 East 46th Street. Sparks was made famous after mafia boss Paul Castellano and an associate were shot down in front of the establishment. Tom Bow and Ashley Gee represented the landlord, the Durst Organization, in-house.
3) The Gap, 655 Third Avenue, Murray Hill – 15,942 square feet
The apparel chain renewed its lease for just under 16,000 square feet of retail space at 655 Third Avenue. The asking rent at the 30-story building was $250 per square foot. The Gap has occupied space in the building since 1992. Ariel Schuster and Justin Fantasia of RKF represented the tenant. The landlord of the building is the Durst Organization.
4) Muji, 127 East 59th Street, Lenox Hill – 13,000 square feet
The Japanese clothing and home goods chain signed a lease for 13,000 square feet of retail space at 127 East 59th Street. Michael O’Neill and Jason Greenstone of Cushman & Wakefield represented the tenant, while Jeffrey Roseman and Drew Weiss of Newmark Knight Frank represented the landlord, Benenson Capital Partners.
5) Knickerbocker Social, 240 West 52nd Street, Midtown – 12,776 square feet
The organization signed a triple-net lease for 12,776 square feet at 240 West 52nd Street with plans to open a beer hall. The asking rent was reportedly $55,000 per month.Victor Menkin of Menkin Realty Services represented both the tenant and landlord in the transaction.
6) Frame, 345 Fifth Avenue, Midtown South – 12,000 square feet
The food hall inked a 15-year lease for 12,000 square feet of retail space at the 16-story building. The asking rent was $400 per square foot. Siderow Commercial Group represented the tenant, while Faith Hope Consolo and Corey Shuster of Douglas Elliman Real Estate represented the landlord, Regency Enterprises Partners LLC.
7) TsuruTonTan, 64 West 48th Street, Midtown – 10,000 square feet
The Udon noodle eatery signed a 15-year lease for 10,000 square feet of retail space at 64 West 48th Street. Howard Gilbert of ABS Partners Real Estate represented the tenant, while Mark Utreras, Nevin Danzinger and Jeffrey Roseman of Newmark Knight Frank represented the landlord, Muss Development.
8) Bluebird, 10 Columbus Circle, Lincoln Square – 10,000 square feet
The classic British eatery inked a lease for 10,000 square feet of retail space at 10 Columbus Circle. The restaurant will encompass part of the 3rd floor of the building. Kevin Stuessi of Related Companies represented the landlord in-house.
9) Muses 35 Bar, 248 West 35th Street, Midtown South – 8,000 square feet
The karaoke bar signed a lease for 8,000 square feet of retail space at 248 West 35th Street. Richard Smith of Winick Realty Group represented the tenant. Albert Manopla of Kassin Sabbagh Realty represented the landlord, 248 West 35th Street LLC.
10) Weisman Enterprises, 2375 Flatbush Avenue, Flatlands – 7,750 square feet
The home improvement retailer inked a lease for 7,750 square feet at 2375 Flatbush Avenue. This is the company’s fourth location. M.C. O’Brien represented the tenant and the landlord, Maris Management.
CORRECTION: An earlier version identified Michael Boris as the tenant for deal #6 and RKF as RFK Realty in deal #1.
| September's top 10 retail leases in New York City | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Rank | Address | Sq. Ft. | Neighborhood | Tenant | Tenant representative | Landlord | Landlord representative | Est. ppf | Term |
| 1 | 11 Times Square | 45,000 sf | Midtown | Parques Reunidos | RKF's Robert K. Futterman, Joshua Strauss, Scott Zinovoy | SJP Properties | RKF's Robert K. Futterman, Joshua Strauss, Scott Zinovoy | ||
| 2 | 210 East 46th Street | 22,924 sf | Midtown East | Sparks Steak House | Durst Organization | Durst Organization's Tom Bow, Ashley Gee | 15-years | ||
| 3 | 655 Third Avenue | 15,942 sf | Murray Hill | The Gap | RKF's Ariel Schuster, Justin Fantasia | Durst Organization | $250/sqft | ||
| 4 | 127 East 59th Street | 13,000 sf | Lenox Hill | Muji | Cushman & Wakefield's Michael O'Neill, Jason Greenstone | Benenson Capital Partners | Newmark Knight Frank's Jeffrey Roseman, Drew Weiss | ||
| 5 | 240 West 52nd Street | 12,776 sf | Midtown | Knickerbocker Social | Menkin Realty Services' Victor Menkin | Menkin Realty Services' Victor Menkin | |||
| 6 | 345 Fifth Avenue | 12,000 sf | Midtown South | Frame | Siderow Commercial Group | Regency Enterprises Partners LLC | Douglas Elliman Real Estate's Faith Hope Consolo, Corey Shuster | $400/sqft | 15-years |
| 7 | 64 West 48th Street | 10,000 sf | Midtown | TsuruTonTan | ABS Partners Real Estate's Howard Gilbert | Muss Development | Newmark Knight Frank's Mark Utreras, Nevin Danzinger, Jeffrey Roseman | 15-years | |
| 8 | 10 Columbus Circle | 10,000 sf | Lincoln Square | Bluebird | Related Companies | Related Companies' Kevin Stuessi | |||
| 9 | 248 West 35th Street | 8,000 sf | Midtown South | Muses 35 Bar | Winick Realty Group's Richard Smith | 248 West 35th Street LLC | Kassin Sabbagh Realty's Albert Manopla | ||
| 10 | 2375 Flatbush Avenue | 7,750 sf | Flatlands | Weisman Enterprises | M.C. O'Brien | Maris Management | M.C. O'Brien | ||
| Source: The Real Deal reasearch of news reports and submitted deals published or received last month. | |||||||||