Morden and Kooyman of NGKF Retail arrange lease to Fox’s
1501 Third Avenue - New York, NYNew York, NY Newmark Grubb Knight Frank (NGKF) Retail has completed a long-term lease at 1501 Third Ave. for tenant, Fox’s Designer Off-Price. Stu Morden, senior managing director and Lucas Kooyman, associate of NGKF, served as the exclusive brokers.
Fox’s is a regional chain of women’s discount designer apparel stores with multiple locations along the eastern United States and in the midwest. The chain initially grew its New York City footprint with pop-up stores, first on the Upper West and most recently on the Upper East Side. The new permanent store location at 1501 Third Ave., scheduled to open on March 1st, is also on the Upper East Side, located between 84th and 85th Sts. Fox’s will occupy the entire five-floor, 7,500 s/f building, which will serve as its flagship location.
“This new location on the Upper East Side will present a great opportunity to establish the company name in the Manhattan retail market and continue to help familiarize the neighborhood with the retail chain,” said Morden. “Situated near many subway stations, the area receives heavy foot traffic which will help bring the store great success.”
“Immediately attracted to the building’s open layout, we were very pleased with the space Stu and Lucas found for our flagship location,” said Robert Fox, owner and president of Fox’s. “After various pop-up locations in Manhattan, it was important to us that we establish our company on the Upper East Side. This space is perfect for our permanent residence and we are excited to cement our presence in New York City.”
“We did extensive research on the Upper East and Upper West Sides to identify the perfect place for Fox’s flagship store and were thrilled to find one in such close proximity to its previous pop-up store,” said Kooyman. “The leasing of the entire building at 1501 Third Ave. creates an unparalleled branding opportunity offering high visibility for the company across the five floors.”