News: Brokerage

RIPCO Real Estate negotiates 15,000 s/f long-term lease renewal for Petco at 2475 Broadway

Manhattan, NY According to RIPCO Real Estate, Petco has signed a 10-year lease renewal to continue operating its long-standing location at 2475 Bdwy. The 15,000 s/f store has served the neighborhood for 20 years, and the renewal reinforces Petco’s long-term commitment to the community and the strength of the Upper West Side retail corridor.

RIPCO Real Estate exclusively represented Petco in the transaction. The RIPCO leasing team included Andrew Mandell, vice chairman and principal; Brian Schuster, vice chairman; and Sam Martorella, executive managing director. The landlord, Stephen Haymes, was represented by Andrew Goldberg of CBRE.

“Petco has been a cornerstone retailer at this location for nearly two decades, consistently drawing loyal customers and serving as an essential neighborhood resource,” said Mandell. “This 10-year renewal speaks not only to Petco’s continued success at this location, but also to the enduring strength of the Upper West Side as a service-driven retail market. Well-positioned retailers that meet daily consumer needs continue to perform, even amid broader market shifts.”

Petco is a leading national pet specialty retailer offering premium food, supplies, grooming, training, veterinary services, and wellness solutions for pets and pet parents. Known for its neighborhood-oriented store model, Petco locations are designed to serve dense residential communities with essential, service-based offerings that drive consistent foot traffic and long-term customer loyalty.

Located along Broadway in one of Manhattan’s most established residential corridors, the property benefits from strong foot traffic, a dense surrounding population, and proximity to major transportation and neighborhood amenities. The lease renewal underscores continued tenant confidence in well-located, service-oriented retail across New York City. 

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,