JDS, Property Markets Group and Spruce Capital unveil 50,000 retail space at 111 West 57th

August 20, 2019 - Shopping Centers

Manhattan, NY JDS Development Group, Property Markets Group and Spruce Capital Partners have unvield  plans for 50,000 s/f of retail space at the base of 111 West 57th St. Steinway Hall, formerly New York’s home to Steinway & Sons’ concert hall and piano showroom, will now welcome retail tenants seeking space and brand visibility. Newmark RKF is marketing and leasing the retail space. 

The 50,000 s/f, four-story retail experience, includes 10,076 s/f of retail on the lower level – ideal for food and beverage space, 8,000 s/f on the ground floor, 15,523 s/f on the third floor and 8,620 s/f on the fourth floor. With two entrances, the glass atrium welcomes guests onto the ground floor with a six-story space designed by SHoP Architects. From the atrium, guests ascend via escalator to the third floor where they are greeted by a 35-ft. ceiling and natural light from West 58th St.  

Situated between Sixth and Seventh Aves., this address was home to the piano makers Steinway & Sons. With its acoustic design, Steinway Hall’s Landmark Rotunda once featured musical performances by some of classical music’s most preeminent composers and artists such as Sergei Rachmaninoff, Vladimir Horowitz and Sir Elton John. 

In 2013, the golden-age interior was declared a New York City Landmark, sealing its place in musical and architectural history. Now through the artistry of SHoP Architects and Studio Sofield, the landmark and 82-story tower express an “only in New York” 21st-century ethos. 

“111 West 57th St. is bringing a new era of luxury real estate to New York City with its unprecedented height, iconic design and groundbreaking retail and residential offerings,” said Michael Stern, CEO of JDS Development Group.

Rising above historic Steinway Hall, 111 West 57th St.’s remarkable tower will feature only 46 proportioned full-floor and duplex residences with interiors by acclaimed interior design firm Studio Sofield, led by principal William Sofield. Steinway Hall, originally built in 1925 by celebrated architecture firm Warren & Wetmore, has undergone a careful restoration process and will be seamlessly integrated with the modern tower’s remarkable residences and amenity spaces.

“We are thrilled to announce the addition of this unparalleled product to the marketplace. The craftmanship and attention detail throughout are unlike anything else on the market,” said co-developer and founder of Property Markets Group Kevin Maloney.

Newmark RKF is marketing and leasing the retail space at 111 West 57th St. 

Douglas Elliman Development Marketing is managing marketing and sales for the residences.  

Landmark Residences and Tower Residences are anticipated to begin closings in Q1 2020. 

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