Posted: October 7, 2011
Kaplan of NKF Retail reps landlord, 200 WE Owner, LLC in 8,000 s/f; Centric RE Advisors acts for tenant
According to Newmark Knight Frank, a new 15-year, 8,000 s/f lease has been signed at 200 West End Ave. at 70th St. with apple seeds, an indoor children's activity center and all-in-one play space opening its second location in the city.
apple seeds joins fellow tenants, drugstore chain CVS and an upscale wine store, in the building located in one of the area's most family-friendly neighborhoods. The CVS lease runs through 2024 for 16,000 s/f, while the wine store has a 15-year lease for 1,800 s/f.
Ross Kaplan, managing director at Newmark Knight Frank Retail, represented the landlord, 200 WE Owner, LLC, in the lease. Centric Real Estate Advisors, LLC, represented apple seeds in the transaction.
"apples seeds is a perfect match for the Upper West Side neighborhood, which attracts many young families with its charming Brownstones along with modern condos, close proximity to two major parks, convenient transportation and top public schools," said Kaplan. "There's no doubt the residents will welcome this innovative children's center."
The award-wining apple seeds opened its first center in the Flatiron District in 2007. The original 15,000 s/f center features an indoor playground, more than 100 classes every week, weekday and weekend birthday parties, a day camp, kids' hair salon, a bookstore and cafe. The center welcomes families with children newborn to five years old. apple seeds also has racked up several awards including Best Play Space from New York Magazine and Best Day Camp from Nickelodeon's 2008 Parents Connect's Parent's Picks Award. It recently celebrated a grand opening in Mumbai this May.
200 West End Avenue is a 316,000-square-foot condominium designed by Costas Kondylis, and developed by The Clarett Group. The 170-unit condo opened in 2008 and the 26,000-square-foot retail condominium was sold to Clarion Partners in April of 2010. In July of this year, The Klein Group and Israeli Alto Private Investments bought the retail condominium for $31 million. Newmark Knight Frank's Ross Kaplan advised The Klein Group on the purchase.
Newmark Knight Frank is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.
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