These were the top 10 NYC retail leases
in May

Jun.June 04, 2019 05:45 PM
From left: 28 West 56th Street, 90 Fifth Avenue and 71 Greene Street (Credit: Google Maps)

From left: 28 West 56th Street, 90 Fifth Avenue and 71 Greene Street (Credit: Google Maps)

UPDATED, June 6, 8:09 a.m.: May was a good month for NYC’s restaurants, which secured three of the top retail leases. The rest of the list is a bit of a mixed bag, including some of the usual mainstays like pharmacies and banks.

All together, May’s top 10 retail lease deals totaled less than April’s in terms of square footage, falling for the second month in a row.

The top 10 signed last month totaled 103,500 square feet, down 74,700 square feet from April’s total of 178,200 square feet. April already experienced a decrease with a loss of 5,900 square feet from February’s total of 188,100 square feet. The largest retail lease in May was inked in Washington Heights.

The total is also a step down from that of the top ten retail leases in May of last year, which added up to about 165,000 square feet.

1) Target, 600 West 181st Street, Washington Heights – 23,700 square feet

The retailer inked a 15-year lease for 23,700 square feet of space across two floors at 600 West 181st Street. The new store is expected to open in 2020. The building’s landlord, Maverick Management Corporation, was represented by Jason Pennington of Ripco Real Estate, while Target was represented by Richard Skulnik, also of Ripco. In March, Target signed up for 90,000 square feet at the Caesar’s Bay Shopping Center in Gravesend, replacing both a Toys ‘R’ Us and a Babies ‘R’ Us

2) Total Care Pharmacy RX, 223-10 Union Turnpike, Hollis Hills – 18,500 square feet

The pharmacy signed a 15-year lease for 18,500 square feet of space at 223-10 Union Turnpike in Queens. The space was previously occupied by a 99 cent store. Michelle Abramov of Asset Commercial Realty Group represented the landlord, Gabrielli Irrevocable Trust.

3) Particle Ink, 771 Ninth Avenue, Hell’s Kitchen – 11,500 square feet

An immersive theater inked a 10-year lease for 11,500 square feet of space across all four floors of 771 Ninth Avenue. The experiential show is designed to take audiences through an interactive graphic novel. It replaces a Benjamin Moore Janovic Paint and Decorating Center. James Famularo of Meridian Capital Group represented both the tenant and the landlord, Ben Braka.

4) Corner Table Restaurants, 1201 Broadway, Nomad – 11,000 square feet

The restaurant group responsible for four locations of the popular restaurant The Smith inked a lease for 11,000 square feet of space at 1201 Broadway. Alexandra Turboff of Branded Concept Development represented the tenant, while David Green and Nicole Mendelson of Colliers International represented the landlord, Williams Equities. The new restaurant is slated to open in 2020.

5) Republic Bank, 90 Fifth Avenue, Flatiron – 7,748 square feet

The bank inked a 15-year lease for 7,748 square feet of space at 90 Fifth Avenue. Other tenants at the 11-story property include Compass, AltSchool and TD Bank. Jeffrey Roseman of Newmark Knight Frank represented the tenant, while Jordan Claffey of RFR Realty represented the landlord in-house along with an SRS Real Estate Partners team of Daniel Richman, Jay Gilbert and Jansen Hafen.

6) Oiji, 11 West 19th Street, Flatiron – 7,423 square feet

The restaurant signed a lease for 7,423 square feet of space at 11 West 19th Street. David Green and Daniel Kestenbaum of Kassin Sabbagh Realty represented the tenant, while Brian Neugeboren of Savitt Partners represented the landlord, Block Buildings.

7) Alexander McQueen, 71 Greene Street, Soho – 6,600 square feet

The fashion label signed a lease for 6,600 square feet of space across two floors at 71 Greene Street. The new location will be just across the street from Kering’s Yves Saint Laurent store. Michael O’Neill, Jason Greenstone and Taylor Reynolds of Cushman & Wakefield represented the tenant. The building’s landlord is 69-73 Greene Street Owner.

8) PeekABooo, 47-09 34th Avenue, Astoria – 6,000 square feet

The children’s play space signed a 10-year lease for 6,000 square feet of space at 47-09 34th Avenue. Kris Jimenez of DY Realty Services represented both the tenant and the landlord, AYC Properties.

9) (tie) Dim Sum Palace Group, 28 West 56th Street, Plaza District – 6,000 square feet

The restaurant inked a lease for 6,000 square feet of space at 28 West 56th Street. David Green of Kassin Sabbagh Realty represented both the tenant and the landlord, Coinvest Instrumt.

10) Doors & More, 2004 McDonald Avenue, Gravesend – 5,000 square feet

The tenant signed a lease for 5,000 square feet of space at 2004 McDonald Avenue. Denis Abayev of Commercial Acquisitions represented the tenant, while Arsen Atbashyan of Commercial Acquisitions represented the landlord, LASM Properties.

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