Lee NYC brokers three retail leases totaling 8,762 s/f

February 19, 2019 - Shopping Centers
Peter Braus, Lee & Associates

 

Brad Schwarz, Lee & Associates

 

Manhattan, NY Lee & Associates NYC has completed three retail leases totaling 8,762 s/f.

In the first lease, Peter Braus, managing principal; Mark Kapnick, executive VP/principal; JP Sutro, executive managing director; and Richard Kave, executive managing director, of Lee NYC have negotiated a ground-floor 1,000 s/f lease at 135 West 41st St., between Sixth Ave. and Broadway, for Uncle Tetsu. This will be the first NYC location for the brand which has hundreds of outposts throughout Asia, the Middle East, Canada and Australia as well as California and Hawaii. The Lee NYC leasing team represented ownership, Tribeca Associates. The tenant was represented by Hiroshi Nagata & Maki Yamamoto from Sumitomo Real Estate. Uncle Tetsu is expected to open in the spring of 2019 and the lease term is seven years.

1220 Third Avenue - Manhattan, NY

In the second deal, Brad Schwarz, executive managing director/principal, of Lee NYC has negotiated a ground-floor, 1,597 s/f lease at 666 Third Ave., between 42nd and 43rd Sts., for Le Botaniste. The company was founded in Belgium and has locations in both Ghent and Brussels. This will be the third NYC restaurant for the brand, which currently has outposts on the Upper East Side and in SoHo.

Le Botaniste is expected to open in the spring of 2019. The property owner, Tishman Speyer, was represented in-house by Nicholas Howell. The lease term is 12 years.

In the last deal, Braus, Greg Tannor, executive VP/principal, and Sutro of Lee NYC have negotiated a 6,165 s/f lease, at 1220 Third Ave. (The Townsend House Corp.), between 70th and 71st Sts., for Long’s Bedding & Interiors Inc. The new space will consist of 4,540 s/f on the ground floor and 1,625 s/f on the lower level. A fourth generation family business since 1911, the bedding company is expanding from their current outpost at 121 West 72nd St., due in large part to a need for additional s/f and 1220 Third Ave.’s proven history of retail success.  Long’s Bedding is expected to open in the third quarter of this year following an extensive build out. The landlord is The Townsend House Corp. 

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