Bass Real Estate names Avison Young exclusive office leasing agent for The Strand Building at 826 Broadway

Avison Young, the world's fastest-growing commercial real estate services firm, today announced that its New York City office has been named the exclusive office leasing agent for The Strand Building at 826 Broadway, Bass Real Estate's 152,000 s/f building in Manhattan's flourishing Midtown South submarket. The building, situated two blocks from Union Square, is home to Strand Book Store, the legendary New York City bookstore selling new, used and rare books. The Avison Young team of Principal Michael Leff, Senior Vice-President Anthony LoPresti, and Associate Stephen DeFlorio will manage leasing for the building's office space on behalf of ownership. The assignment represents the first time that ownership has awarded an exclusive agency to market leasing opportunities at the building. "This building has an incredible history, with Strand - an 87-year-old institution and one of New York City's cultural treasures - as the last remaining bookstore from the days of Manhattan's famed 'Book Row'," comments Nancy Bass of Bass Real Estate. "Today, there is a resurgence of creative tenants migrating to this neighborhood and we are confident that the Avison Young team will be able to effectively capitalize on this continuing trend." Avison Young is currently marketing two floors of 12,700 s/f each, which can be combined to create a rare block of more than 25,000 s/f in Union Square. The 11-story building, first constructed in 1903, sits at the corner of Broadway and E. 12th Street, offering open, loft-like office space and two sides of oversized windows that allow for an abundance of natural light to permeate the floors. The Robin Hood Foundation, one of the most well known charitable organizations focused on fighting poverty in New York City, is the building's largest office tenant. "Situated within Midtown South - the neighborhood of choice for companies in the technology, advertising, media and internet sectors - The Strand Building provides tenants with a distinct identity in one of the most highly sought-after submarkets in Manhattan," notes Leff. "The open landscape of the building's floor plates makes this property particularly conducive to the space requirements of creative office users, and its proximity to the Union Square subway terminal affords excellent access to mass transit." LoPresti said, "Ownership has consistently reinvested in this building to ensure the strength of its market position, including having recently installed new windows, new HVAC units and renovated bathrooms, with additional enhancements planned for the building's lobby." The building is located two blocks south of Union Square, host to public art exhibitions, seasonal markets and the year-round Greenmarket, which features stands from dozens of local farmers, butchers and bakers. The 14th Street - Union Square subway station sits at the south end of the square and is serviced by multiple train lines. Several notable restaurants are located in the greater neighborhood, including Union Square Café, Gramercy Tavern and Gotham Bar & Grill.