New York, NY RFR Retail has completed two new retail leases totaling 5,666 s/f at 90 Fifth Ave. and 275 Madison Ave. The leases were sourced and negotiated in-house by RFR VP and director of retail leasing Jordan Claffey.
Fields Good Chicken, an upmarket counter serve featuring healthy, local, antibiotic-free grilled and roasted chicken, signed a new lease for 4,066 s/f of space at 275 Madison Ave. Fields Good Chicken was represented by Benjamin Birnbaum, Marc Frankel, and Jeffrey Roseman from Newmark Grubb Knight Frank. This will be its second signed lease in Manhattan in addition to its Financial District location at 101 Maiden Ln., and Fields Good Chicken has additional expansion plans.
On the ground floor of 90 Fifth Ave., L.A. lifestyle-inspired women’s clothing retailer Brandy Melville signed a lease for 1,600 s/f. Alan Napack from Cushman & Wakefield represented the tenant in the 32-month lease. This will be Brandy Melville’s fourth New York City signed lease, in addition to its locations on Broadway in SoHo, Prince St. in Nolita and UES.
Claffey said, “We’re pleased to partner with Fields Good Chicken and Brandy Melville in two of RFR’s iconic properties. Fields Good Chicken is a unique and distinguished concept in the QSR category with an exceptional leadership team – they’ve combined the best ingredients with innovative preparation by skilled chefs, to create healthy offerings on-the-go. Brandy Melville is an international brand with a loyal teen following, and this lease further establishes Fifth Ave. south of 16th St. as a destination for fashion tenants.”
RFR believes in the renaissance taking place in NoHo and the Bowery and has positioned itself for the future with an eye to stay ahead of the competition. In NoHo, RFR’s 11 Bond St.—a five story, 16,000 s/f property—is being repositioned for potential single tenant use, with flagship retail space available across its five floors.
The building has 100 ft. of frontage on Lafayette St. and approximately 32 ft. of frontage on Bond St. The firm is also currently under contract on another NoHo property located on Lafayette St. that has exciting possibilities for retail use.
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.