ABS Partners signs 12,790 s/f to Ethan Allen

Manhattan, NY Full-service commercial real estate firm ABS Partners Real Estate, LLC secured an 11-year, 12,790 s/f retail lease for Ethan Allen at 915 Broadway in the borough’s Flatiron District. The home furnishing giant is taking 7,831 s/f on the ground floor, 3,795 s/f on the mezzanine and 1,164 s/f on the lower level. The new retail store is expected to open by summer 2016. “We were very selective about the tenant we chose to anchor 915 Broadway. We wanted to attract the perfect retailer for the space, leading us to commission a study that ended up demonstrating a shift in shoppers moving from Fifth Ave. and 21st St. over to Broadway. We also invested time to understand the psychographics of this particular area of the Flatiron District and determined that a home furnishing retailer would best suit the neighborhood, and vice versa,” said John Brod, a partner at ABS Partners Real Estate. “Ethan Allen also recognized the high-end opportunity that 915 Broadway offered its brand within Manhattan’s home design sweet spot, which was pivotal to the company, especially as it shifts to attract a higher-design demographic.” Brod, Mark Tergesen, Robert Kempner and Alex Kaskel of ABS Partners Real Estate represented the landlord, 915 Broadway Associates LLC, in the transaction. 915 Broadway is a 20-story, 250,000-square-foot building in the heart of the Flatiron District. The modernized building has dual-attended lobbies and direct fiber connections in every space. Located at the corner of Broadway and 21st Street, the building is close to a variety of dining and shopping and is a short walk to both Madison Square Park and Union Square. 915 Broadway is easily accessible by public transportation via the 1, 4, 5, 6, L, M N, Q, R and F subway lines, and the 23rd Street PATH Station. Ethan Allen, founded in 1932, specializes in creating well-crafted, livable furniture, most of which is designed and built in-house. Headquartered in Danbury, Connecticut, the company has 295 Design Centers and Studios and six manufacturing facilities located across the United States, Canada and The United Kingdom.