Insights

Alo Yoga, 241 Bedford Avenue, Williamsburg – 14,228 square feet The yoga studio signed a lease for 14,228 square feet of retail space at 241 Bedford Avenue. Lauren Musacchio and Alissa Bersin of McDevitt Company represented the tenant. Jaime Schultz of Lee & Associates NYC represented the landlord, RedSky Capital.   https://therealdeal.com/2018/03/06/the-top-10-nyc-retail-leases-in-february/

E-lo Sportswear/Zaralo is consolidating and moving to 34,000 square feet on the top two floors of 469 Seventh Ave., right across from the upcoming Moxy hotel. The tenant will take the 15th and 16th floors in the deal represented by a Lee & Associates NYC team of Ken Salzman, Mitchell Kunikoff and Andrew Lesser. The fashion house is currently located in numerous spaces at the nearby 500 Seventh Ave. E-lo and Zaralo, its wholly owned…

We think smarter about real estate. Our Trend Trackers—state-of-the-market reports issued quarterly for Manhattan, Long Island and, coming soon, Brooklyn—offer insight you’ll find nowhere else. We write articles on industry-related topics, lead panels, and remain involved in issues that affect our City and our industry. 4Q 2017 Market Office Report (Trend Tracker)

US Industrial Market – Demand Falls But Healthy, Signs of Caution Demand for industrial space fell 15.6% in 2017 from a year ago as net absorption totaled 231 million SF, its lowest level since 2014. Despite stronger fourth-quarter demand, net absorption of industrial space nationwide skidded 13% for the year and flex space plunged 36.5%. Click here to read the entire Q4 2017 Lee Industrial Brief

Peter Braus, Managing Principal of Lee & Associates NYC, has arranged a lease for the Church Street School for Music and Art at 41 White Street in Tribeca. Working directly with Executive Director Lisa Ecklund-Flores, who founded the non-profit music and arts school in 1990, Mr. Braus spent nearly two years searching for a location that met the school’s criteria for affordability in the Tribeca submarket and room enough to accommodate a student body that starts at…

“Like other retailers, traditional toy retailers have been decimated by multiple forces,” says Peter Braus, managing principal in the New York City office of Lee & Associates. “First, Walmart and Target took away much of the market from specialty toy stores. As Amazon and online retailers began to take a larger and larger share of the market, this became too much for Toys ‘R’ Us and was the nail in the coffin.”  Click here to…

BACKGROUND In late 2012, Chicago-based L3 Capital and Washington D.C-based ASB Real Estate Investments purchased this 5-story, 43,000 SF mixed-use building in the heart of SoHo. Immediately upon acquisition, we were engaged to deploy our property, asset and project management teams, as well as our Lee & Associates NYC office leasing team, to help reposition this premier SoHo cast iron property. DEVELOPMENT One of the initial decisions to be made by ownership was whether or…

The Manhattan retail leasing market is still in a corrective period. The increased rents of previous years are receding. Deals are still getting done, but they favor parties willing to be flexible with deal structure, uses, asking rent adjustments, and increased concession packages. The correction may prove healthy for both the short and long-term viability of the Manhattan retail leasing market. Per square foot ground floor retail asking rents declined year-over-year in 13 of the…

We think smarter about real estate. Our Trend Trackers—state-of-the-market reports issued quarterly for Manhattan, Brooklyn, Queens, and Long Island—offer insight you’ll find nowhere else. We write articles on industry-related topics, lead panels, and remain involved in issues that affect our City and our industry. 1Q 2017 Market Office Report (Trend Tracker)