News:
Brokerage
Posted: March 14, 2023
Helmsley Spear arranges lease For 420 Fifth Ave. with City Souvenirs USA
Manhattan, NY Helmsley Spear, LLC has represented City Souvenirs, USA in the new lease located at 420 Fifth Ave. The space covers 2,240 s/f of rentable retail s/f.
Helmsley Spear’s Showket Ahamed, Associate Broker, represented the tenant, City Souvenirs in this transaction. City Souvenirs signed a lease for a term of ten years with one five-year option to renew. 420 Fifth Avenue is a Class mixed use office and retail building. It is strategically located on Fifth Avenue and 38th Street, near Grand Central and Penn Stations.
The landlord, Dryland Properties LLC. c/o Heritage Realty Services, LLC., was represented by its President & CEO George Constantin.
“This has truly been a wonderful achievement bringing a ten-year lease to this vibrant Midtown Fifth Avenue location. And, as New York City continues to rebound, I have been proud to represent City Souvenirs, USA , in this transaction,” said Showket Ahamed.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
 (2).gif)
Columns and Thought Leadership
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
Positive forecast for New York’s pro-housing push? - by Philip Butler
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
.gif)
September Promotion
