41 West 24th Street

FLATIRON41 DISTRICT RESTAURANT SPACE WEST RETAIL 24TH /STREET THE PLAN
Between Fifth & Sixth Avenues

New York, NY

The building’s previously drab storefront will also be renovated into a glass entryway.

After sitting vacant for two years in the heart of the Flatiron District, the new ownership group of 41 West 24th Street has elected to gut-renovate the building’s retail space in order to capitalize on the neighborhood’s growing popularity with office users and residents. Previously occupied by a deli, the 2,300-square-foot space sits between Fifth and Sixth Avenues and enjoys close proximity to both Eataly and one of the area’s hottest residential developments, 10 Madison Square. Envisioned as the new home for a local or regional purveyor, the retail space at 41 West 24th Street is being marketed by Cushman & Wakefield to a number of potential tenants, including coffee shops. “We’d love to do coffee, but we have got total flexibility” Steven Soutendijk told The Commercial Observer. Mr. Soutendijk, who is marketing the space alongside Stephanie Katona and Jesse Hutcher, discussed the gut renovation of the disused space.
SIZE HEIGHTS 12FT CEILING FlOOR GROUnD COMMENTS Located in the heart of the Flatiron District, just steps from Eataly. Being delivered in “white-box” condition with new storefront. Just steps away from incredible residential density, including 10 Madison Square West – NYC’s newest exclusive luxury condominiums. All uses acceptable. Asking Rent: $240,000 per annum

FLOOR GROUND

The first step in the renovation process was to cut away the 650 SF LOWER LEVEL existing interior, including the drop ceiling and tile installa2,300 TOTAL tion. “We had to remove fiveSF layers of tile that accumulated FRONTAGE over the years,” Mr. Soutendijk said. Now, with exposed brick POSSESSION and ceiling heights reaching up to 14 feet, the space will LEASE TYPE more closely resemble the Midtown South aesthetic.

1,650 SF

20 FT Arranged Direct

FOR MORE INFORMATION, PLEASE CONTACT:

1290 Avenue of the Americas, 7th Floor New York, NY 10104-6178 Work will be done to In the process of renovaSenior Director Senior Brokerage Coordinator Associate (212) 841-7500 ensure systems such as tions, while stripping away (212) 713-6845 (212) 713-6728 (212) 841-7627 www.cushwake.com electrical, gas jesse.hutcher@cushwake.com and venting years of various installasteven.soutendijk@cushwake.com stephanie.katona@cushwake.com are upgraded and up to tions, workers uncovered A commission computed and earned in accordance with the rates and conditions of our agency agreement with our principal, when received from our principal, will be paid to a cooperating broker who consummates a lease, which is unconditionally executed and delivered by and between lessor and lessee (a copy of the rates and conditions referred to available upon request). No warranty or an alcove that, while small, code. “The HVAC isabove in is good representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental, or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our principals. shape, so we’ll probably will add character to what The depiction in the above photograph of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client that,” and the property offered by Cushman & Wakefield) is incidental only, and is not leave Mr. Soutendijk was previously a “beat intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client. said. up” installation. “We’re exposing some interesting things,” Mr. Soutendijk said of the process.

CUSHMAN & WAKEFIELD, INC.

Steven Soutendijk

Stephanie Katona

Jesse Hutcher

Although the plan indicates the presence of a kitchen, closet and other amenities, the space will be delivered as a clean shell. “We’re going to be able to deliver the space in early December, and we want to get [a tenant] started on work early next year and get them moving in by the middle of 2014,” Mr. Soutendijk said.

LOWER LEVEL

The space’s 650-squarefoot lower level will offer ample room for backof-house needs, such as storage and potentially a kitchen area. “The lower level is definitely not suitable for selling or seating,” Mr. Soutendijk said.

42 | NOVEMBER 5, 2013  | COMMERCIAL OBSERVER

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