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…
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…
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…
Vivaia Footwear Lease SoHo NYC: New Store on Prince Street
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
Le Botaniste to Open Sixth New York City Location at Penn 11
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…
Mediterranean Restaurant Pixida to Open 16K-SF Eatery at 245 Fifth Avenue
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,…
Q1 2024 NYC Retail Overview
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…