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New Plan for Web

New Plan for Web

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Published by: jotham_sederstr7655 on Oct 02, 2013
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07/03/2014

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THE PLAN

1051 third avenue
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Previously the home of apparel retailer Searle, the entire ground floor of co-op building 1051 Third Avenue has become available in recent years, with parcels divided among new tenants Alice NYC, a Searle offshoot, and Intimacy, a lingerie store. Now, a 4,200-square-foot parcel at the address is being marketed by Winick to retailers looking for a piece of Third Avenue’s surge in popularity. Split between a 3,000-square-foot ground-floor space and a 1,200-square-foot lower level, the early interest has come from accessories companies. The possibilities do not end there, however, because the landlord is considering pop-up and short-term deals through the holidays. Melinda Miller of Winick spoke to The Commercial Observer last week about the space, which carries an asking rent of $225 per square foot.

ground floor

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The lower level cannot be used as a selling space, but it does offer high ceilings, which are particularly useful to retailers that demand large storage capacity. “The storage is great, especially for a shoe user,” Mr. Miller noted. Within two blocks of Bloomingdale’s, the location enjoys excellent proximity to many highprofile retailers, including Urban Outfitters, American Apparel, Lululemon and True Religion. A high level of pedestrian traffic in a high-income area is also a selling point for retailers—not to mention the fact that the space is steps away from the new R station at 63rd Street and Third Avenue.

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The space has been completely demoed and is now a blank canvas for the new tenant with HVAC included. An ADA bathroom has been installed in the rear of the space where a dressing room once was. Despite the presence of columns, the space feels open, according to Ms. Miller. “The space flows very freely,” she noted. “It does not seem hindered—and with 43 feet of frontage, when you walk, in it’s a wide-open space.”

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lower level

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38 | OCTOBER 1, 2013  | COMMERCIAL OBSERVER

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