Allen of Synapse Retail arranges 904 s/f lease to Birch Coffee at 8 Spruce Street in the financial district

Synapse Retail, the retail-focused advisory division of Synapse Development Group, has represented Birch Coffee, the craft coffee house co-founded by Paul Schlader and Jeremy Lyman, in leasing space at 8 Spruce St. The New York By Gehry Building is one of the tallest residential towers in the world and has 904 apartments. Located on the corner of Beekman St. between Nassau and Gold Sts. in the financial district, the site will be Birch Coffee's seventh NYC location. Kyle Allen, director of retail for Synapse, represented Birch Coffee in the lease of the 904 s/f ground floor space. Birch Coffee signed a 10-year lease for the space, which had an asking rent of $125 per s/f. Designed by Frank Gehry and developed by Forest City Ratner, the tower is a natural fit for Birch Coffee as it seeks to expand its footprint to residents and visitors in the Financial District. Allen said, "Surrounded by new redevelopments including The Beekman and South Street Seaport, the iconic building is the perfect location for Birch Coffee to plant its first Financial District flag and offer the high-end, relaxed cafe ambience and experience Birch's loyal clients rave about." Birch has plans to open the location by the end of the year. The company was also represented by Mr. Allen in its most recent ground lease in Murray Hill at 432 Third Avenue and East 30th Street.