January’s top 10 retail leases: From school to Scores
Variety of businesses make the inaugural list of 2023
Last month’s biggest retail leases included plenty of the usual suspects, including two fitness centers, a supermarket and a school. The list is not without its wildcards, however, such as a children’s activity center and a handful of new restaurants.
Here are the largest leases of January 2023.
1) King’s College | Financial District | 52,542 square feet
The Christian liberal arts school inked a 12-year sublease at 52 Broadway, shrinking its campus in the Financial District from over 81,000 sf. Joseph Armano of Armano Real Estate represented the school, while Cushman & Wakefield represented the sublandlord, the United Federation of Teachers.
2) CompletePlayground | Financial District | 40,000 sf
The nonprofit signed a 15-year lease for a new play center for children. The space, set to open in September at 30 Broad Street, will be CompletePlayground’s first location. Alex Reznik founded the organization because he was unsatisfied with the options available to his son with autism spectrum disorder. David Tricarico and Jake Horowitz of Colliers represented both the tenant and the landlord, Tribeca Associates.
3) Life Time | Boerum Hill | 36,470 sf
The luxury gym chain signed a 20-year lease for a new location at 18 6th Avenue, by Barclays Center in Brooklyn. The building, part of the Pacific Park development, is an 858-unit high-rise designed by Perkins Eastman. Joe Mastromonaco and Colleen Morrissey of Atlantic Retail NYC represented the tenant while Brett Fishman and Alexander Brodsky of the Brodsky Organization represented the landlords, the Brodsky Organization and Greenland USA.
4) Shop Fair Supermarket | Arverne | 27,676 sf
The supermarket inked a 25-year lease at 51-23 Beach Channel Drive, the base of the Edgemere Commons development in Queens, which is still under construction. Greg Parassio and Brian Doyle of Booth Street represented both the tenant and the landlords, Arker Companies and Slate Property Group.
5) Simon Kim | Plaza District | 15,000 sf
The restaurateur agreed to a lease for an as-yet-unnamed 3-story restaurant within the landmarked building at 550 Madison Avenue, where Hermès recently moved its headquarters. Kim is the owner of Cote, a Michelin-star Korean steakhouse. The building’s landlord is Olayan Group.
6) Delmonico’s Restaurant Group | Financial District | 14,393 sf
The famed steakhouse signed a 15-year lease to open this fall at 56 Beaver Street. The news follows an eviction battle with the restaurant’s previous landlord and a legal dispute over its ownership. Scott Schneidman and Scott Klatsky of Time Equities represented the landlord in-house.
7) Olgam Life | Central Harlem | 12,700 sf
The plasma donation center, which also appeared on last month’s list, inked a 10-year lease at 135 West 125th Street. Josh Augenbaum of Augenbaum Realty represented the tenant and the landlord, Thor Equities.
8) Mission Ceviche | Flatiron | 11,000 sf
The Peruvian restaurant signed a lease for 5 East 17th Street, its second location in Manhattan. Jonathan Burke and Lena Roth of JW Burke represented the tenant. The building’s landlord is Acadia Realty Trust, which has been busy in Chicago and Texas lately.
9) Absolute Power Fitness | Bushwick | 9,500 sf
The gym signed a 15-year lease for its second Brooklyn location, at 49 Wyckoff Avenue. Aryeh Vilinsky of BH Realty represented the tenant while Josh Sloan of Olmsted Real Estate represented the landlord, Wykoff Sp.
10) Scores Sports Bar | Penn Plaza | 9,000 sf
The sports bar inked a 15-year lease for a new space at 416 Eighth Avenue in Penn Plaza. Spencer Planit of Winick Realty represented the tenant while Brad Schwarz and James Ficelman of Lee & Associates NYC represented the landlord, Riese Organization.