322 Eighth Avenue - New York, NYNew York, NY According to Newmark Holdings’ co-CEOs Brian Steinwurtzel and Eric Gural, pharmacy and convenience store Duane Reade has renewed its 10-year, 4,800 s/f retail lease at 322 Eighth Ave. The 21-story, 175,000 s/f, mixed-use building is located in Chelsea.
Jeff Winick and Louis Eisinger of Winick Realty represented the tenant, while Allen Gurevich, senior managing director of Newmark Holdings, acted on behalf of the ownership.
Newmark Holdings implemented a $4 million capital improvement program to redesign the façade of the first two stories of the building, which resulted in a cohesive glass storefront. The main entrance has also been enhanced with a sculptural canopy.
“Duane Reade’s commitment to 322 Eighth Ave. is indicative of the ownership’s continued investment in the asset,” said Gurevich.
“Our team worked tirelessly to employ a program that would reimagine the retail storefront and entranceway in a way that would best benefit our tenants and neighbors.”
The building, which houses such notable tenants as JUICE Pharma Worldwide, Pelli Clarke Pelli Architects and The Nature Conservancy, is located in close proximity to Penn Station.