1880 BROADWAY
Rent:Asking $350-$450 per square foot (ground floor)
Gene Spiegelman of Cushman & Wakefield.
Retail in the rear of the new Robert A.M. Stern designed condo at 15 Central Park West has 232-feet of ground floor retail street-frontage along Broadway beween 61st and 62nd Streets.There ‘s second floor retail,two selling lower levels,and a dedicated retail loading dock and vertical transportation.
QUEENS CROSSING
Rent:$225 on Main St.;$100 on 138th St.in rear;2nd fl.$60 a foot
Robert Gibson,Jedd Nero,Andrew Goldberg and Susan Kurland of CB Richard Ellis
Brand new mixed use building at Main St.and 39th Ave.in Flushing,Queens, will deliver 85,000 sf of retail on three
levels by Fall 2006. The rest of the building will be commercial condos.Developers F&T Group are behind the project.
Says Robert Gibson of CB Ellis: “This will be the new 50-yard line for retail in downtown Flushing.”
1540 BROADWAY
Rent:Asking $3 million per annum
Jeffrey Roseman,Newmark Retail Otherwise known as the Bertelsman Building,it was formerly occupied by the BarCode.Includes one of Times Square ‘s most spectacular eye level billboards,which comes with the store,which is approximately 23,000 square feet.
168-23 JAMAICA AVENUE
Rent:Asking $35 a foot based on ground floor footage
Franklin Zuckerbrot, Shalom & Zuckerbrot
The Toys ‘R Us building has 29,000 square feet of ground floor space, plus 19,000 square feet on the lower level,giving a total of 48,000 square feet. It will be ready for occupancy by February 1,2006.
TIME SQUARE’s reinvention as capital of retail shows not sign of slowing
Two other prime spots have also just changed hands and are expected to pump up availabilities and the mix.
Jeff Sutton expects to tear down and rebuild the former Howard Johnson site at 1551 Broadway at 46th St.It will
likely become three levels totaling 21,000 feet plus billboards.
“He wants one tenant and it is priced aggressively,” said Futterman.
“But it is one of the top three locations in the Bow Tie.”
Sutton,along with SL Green Realty Trust,also just purchased 1604 Broadway. That has 42,000 rentable square feet with frontage on both,and includes the former Noche restaurant,as well as great signage that is now in transition.
“I look at Times Square today as a branding opportunity and a place where a company can show off its product,” said Sutton..
“It will be an advertising signpost,” said LaPierre of CBRE.
“If you go to Times Square to make a profit you are not right perspective.” LaPierre is representing the shop next to the New Amsterdam Theater on 42nd St.which Disney is giving up. “They want someone that will be an amenity to the theater and it will do well,” said LaPierre.
At 1540 Broadway,the 21,000 foot three-level former Aussie watering spot, Bar Code,is also on the market through Roseman of Newmark (see below).
