Target signs lease at Xinyuan’s Hell’s Kitchen condo project

Retailer would occupy 29K sf at base of 615 10th Avenue

Rendering of Target at 615 10th Avenue (credit: Target)
Rendering of Target at 615 10th Avenue (credit: Target)

Target is moving into the base of Xinyuan Real Estate’s condominium project at 615 10th Avenue in Hell’s Kitchen.

The retailer signed a 29,000-square-foot lease and plans to move in by 2019, the New York Post reported.

The new location will be one of Target’s so-called flexible-format stores: smaller stores with offerings geared toward the immediate neighborhood. The Hell’s Kitchen store will offer clothing, food, accessories and home items.

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Ripco Real Estate’s [TRDataCustom] Peter Ripka, Richard Skulnik and Jeffrey Howard represented Target, while RKF’s Brandon Eisenman and Thomas Cholnoky represented Xinyuan.

Xinyuan bought the site for $57 million in January and then filed plans for a 105,305-square-foot, seven-story condo.  The Chinese development firm is also behind the new condo property the Oosten at 429 Kent Avenue in South Williamsburg.

Target has signed multiple New York City leases over the past year, including at Extell Development’s 500 East 14th Street in the East Village and  at 255 Greenwich Street in Tribeca. [NYP]Konrad Putzier