M&T Bank today announced its expansion in New York City with a 2,484-square-foot lease at 2976 Third Avenue in the Melrose neighborhood of the Bronx. The bank signed a 20-year lease, highlighting its commitment to serving Bronx residents. “We are thrilled to bring another branch to the Bronx,” said Blair Ridder, NYC Regional President of M&T Bank. “Along with continuing to help our customers achieve their financial goals, we are deeply committed to making meaningful investments in the…
Wholesaler Liba Fabrics Takes 4K SF at 149 West 36th Street
Family-owned textile importer Liba Fabrics has moved its offices within Manhattan’s Garment District. The fabric wholesaler has leased 4,000 square feet on the entire ninth floor of The Frangene Company’s 149 West 36th Street, according to tenant broker Lee & Associates NYC. The lease runs for seven years and seven months. The deal represents a bit of a downsizing for Liba, which left its 7,500-square-foot office across the street at 132 West 36th Street for…
Capping Ground Lease Charges for New York Co-Ops Would Be Disastrous
There has been press recently about co-operative buildings on ground leases, where land ownership is separate from building ownership. The co-op does not own its land but “rents” it from the actual landowners, allowing co-ops to lease the land under their buildings for a fixed period, often decades. In cities like New York, where land is scarce and property prices soar, co-ops built on ground leases have long been a pragmatic solution. As these leases…
Valeria Syanchuk Joins Lee & Associates NYC as Director of Market Research
Valeria Syanchuk has been appointed Director of Market Research at Lee & Associates NYC. In this new role, she will lead the firm’s Market Research department, focusing on providing customized research solutions that support the company’s broad service offerings. Her work will enhance the firm’s mission to blend local market insights with a global perspective, ensuring top-tier service for clients. Syanchuk previously served as a Senior Research Analyst at Cushman & Wakefield. Read Full Article…
Italian Eatery Pietro’s Returning to NYC at 890 Second Avenue
Italian-style steakhouse Pietro’s, a New York City staple for decades before it shut down last year, has found a new home in Midtown East. Pietro’s, which first opened in 1932 at 232 East 43rd Street, has signed a 15-year lease to move into 5,022 square feet on the ground floor and lower level of Stellar Management’s 890 Second Avenue, according to tenant broker Cory Gahr of Lee & Associates NYC. The lease agreement was facilitated by Lee & Associates NYC…
Partiful, Bodyrok Lease at 397 Bridge Street
Event planning platform Partiful and Pilates studio Bodyrok have each secured leases at 397 Bridge Street in Downtown Brooklyn. Partiful will occupy 7,000 square feet on the 10th floor, while Bodyrok will take 2,000 square feet on the ground floor. The asking rent for both deals was $50 per square foot. Lee & Associates NYC’s Justin Myers and Dennis Someck represented Partiful in the transaction. The 10-story building, owned by United American Land (UAL), underwent…
Chubby Bowls to open in Greenwich Village
Chubby Group is set to introduce its new quick-service restaurant, Chubby Bowls, in Manhattan’s Greenwich Village. The restaurant will occupy approximately 5,200 square feet at 809 Broadway, with 3,900 square feet on the ground floor and 1,300 square feet on the lower level. Chubby Bowls will feature advanced automated cooking machines serving fresh wagyu beef. This addition expands Chubby Group’s portfolio, which includes 60 locations nationwide, such as the hand-roll bar concept Chubby Nori and…
Ray-Ban to Open Global Flagship at SoHo’s 62 Prince Street
Just in time for sunny summer days, sunglasses brand Ray-Ban will open its new global flagship store at SoHo’s 62 Prince Street. Paris-based optical company EssilorLuxottica, which acquired the Ray-Ban brand in 1999, has signed a 10-year lease for 2,300 square feet at the single-story building owned by 1202 Coney Island Avenue Corporation, according to landlord broker Lee & Associates NYC. Asking rent was $750 per square foot. “62 Prince Street is situated on one of the most iconic retail corners in…
Lee NYC Sees Retail Leasing Momentum in the Bronx
Lee & Associates NYC said it has completed 35,800 square feet of new retail leases across the Bronx. The transactions include 21,400 square feet at 4075-4077 Boston Rd., 9,500 square feet at 537 E. 138th St. and 4,900 square feet at 410 East 189th St. Avis Budget Group signed a 21,400-square-foot, 20-year lease at 4075-4077 Boston Rd., which includes a 16,000-square-foot lot. LeeNYC’s Steve Lorenzo and Garry Steinberg represented Avis. Ariel Castellanos and Federico Mazzeo from Pinnacle…