Eastern Consolidated arranged a long-term lease for a wine store in a 600 s/f space at Turnstyle, the underground urban market being developed adjacent to the Columbus Circle subway station.
Ravi Idnani, associate director of Eastern's real estate leasing division, and James Famularo, senior director, represented the tenant, Weekday Wines, which is planning to open in Turnstyle at Columbus Circle later this year. Lisa Rosenthal and Ryan Bergman of Lansco represented the developer of Turnstyle, Susan Fine, who redeveloped Grand Central Terminal 20 years ago while serving as director of real estate for the MTA.
"The Turnstyle concourse is going to be a game changer for the New York City subway system by bringing retail into areas where it never existed before," Idnani said. "We're delighted to be part of this innovative urban market by bringing another tenant to the site."
Late last year, Idnani and Famularo arranged a 400 s/f lease at Turnstyle for Madison Jewelers, an upscale jewelry store.
The 15,000 s/f Turnstyle at Columbus Circle will feature 30 retail stores in the widest public space in the concourse between the entrances at the Time Warner Center and the northeast corner of W. 58th Street and 8th Avenue and the Hearst Tower and the southeast corner of W. 57th Street and 8th Avenue. About 21 million commuters pass through the transportation hub annually.
A food market and other retailers will be located in the storefronts, which offer between 10 and 20 feet of frontage and range in size from roughly 150 per square foot to over 650 per s/f.
Idnani and Famularo also represented the owner-operators of Weekday Wines in another transaction by finding them space for their Astoria Bier and Cheese Shop at 779 Broadway in Union Square. The 10-year, 2,000 s/f lease was signed last summer. Tags: