Retail

Popular women’s footwear brand Vivaia is opening its first New York City retail outpost at SoHo’s 68 Prince Street. Vivaia, which sells a range of sustainable and comfortable shoes, signed a three-year lease for a total of 1,460 square feet for ground-level and basement space in the building between Crosby and Lafayette streets, according to landlord broker Mark Kapnick Lee & Associates NYC. Asking rent was $550 per square foot. Read Full Article Here

Organic, plant-based and sustainable restaurant Le Botaniste has signed a new, long-term lease at Penn 11 in the newly revitalized Penn District, its sixth in New York City. The lease consists of ground level and basement space in the building totaling 2,700 square feet. Le Botaniste will occupy the location in the coming weeks, replacing the former tenant, Dig. Brad Schwarz from Lee & Associates NYC represented the tenant, Le Botaniste. Vornado Realty Trust was…

A new Mediterranean restaurant is coming to town. Pixida, which will offer a full menu of Greek cuisine, has signed a 20-year lease for a 16,129-square-foot, multi-level space at the Moinian Group’s 245 Fifth Avenue in NoMad, according to the landlord. SEE ALSO: Tech’s Office Demand Is Rebounding Fastest in These Markets The new restaurant at the corner of Fifth Avenue and East 28th Street is set to open during the fourth quarter of 2025,…

While economic uncertainty loomed, consumer spending in the first quarter of 2024 remained robust for retail goods. Retail sales in the US rose 0.7% in March to $709.6 billion, and total sales for Q1 2024 were up 2.1% from the same period a year ago. The National Retail Federation expects retail sales to reach between $5.23 trillion and $5.28 trillion this year. The 2024 forecast is roughly in line with the 10-year pre-pandemic average annual…

Despite economic headwinds, consumer demand for retail goods remained robust through the first quarter of 2023. National retail sales (including food services) totaled a seasonally adjusted $2,063 billion in Q1 2023, up 4.9% from the prior year and surpassing Q1 2019’s level of $1,509 billion by 36.7%. Food and beverage sales accounted for 12.8% of total retail spending, on par with pre-pandemic levels. Read the complete overview here: 2023 NYC Retail Overview

March 13, 2023 (New York, NY) – Lee & Associates, the largest broker-owned commercial real estate firm in North America, announces 119 SPRING STREET LEASED TO LUXURY RETAILER Philip Plein’s BY LEE NYC’S PAUL POPKIN & JESSICA GERSTEIN See the story covered in Crain’s, New York Business Journal, and Connect CRE. ### MEDIA CONTACT First Last Lee & Associates (000) 000-0000 email@lee-associates.com

See the story covered in Crain’s, New York Business Journal, and Connect CRE.

Click here for the full article on the discussion of landlord and tenant creativity alongside lender hesitancy at the Bisnow Retail Summit in April.      

  Mark Kapnick, Executive Vice President/Principal, Bradley Diamond, Managing Director, and Elliot Diamond, Director, of Lee & Associates NYC LLC (“Lee NYC”) have been named the exclusive agents for 15,000-plus square feet of retail space at the Promenade Shops at LeFrak City, on 99th Street between 57th Avenue and Horace Harding Expressway in Queens. Click here to read more.