|
NEW YORK CITY - Fragrance Warehouse has leased nearly 3,000 square feet at 301 Madison Avenue (at W&H Properties' One Grand Central Place) for its flagship store, announces Fred C. Posniak, senior vice president of W&H.
The store, the company's first, offers more than 5,000 brand-name fragrances at discounted prices.
"This neighborhood is an ideal spot for retailers, thanks to extensive foot traffic from tourists and office workers, and the presence of such major retailers as Sephora, Zara, H&M, and Lord & Taylor, to name just a few," says Mr. Posniak. "It's become a shopping destination in its own right."
Daniel Rahmani of Venture Capital Partners represented Fragrance Warehouse in the lease negotiations. Amira Yunis, Zach Winkler and Jared Lack of Newmark Knight Frank's national retail group represented the landlord.
Rising 55 stories directly opposite Grand Central Terminal, One Grand Central Place offers a white-glove corporate environment with unparalleled convenience. It offers direct in-building access to Grand Central Terminal, including Metro North and the 4, 5, 6, 7 and Times Square shuttle subway lines, and unsurpassed on-site services and amenities, including a visitor center, messenger center, multimedia conference center and law library.
The state-of-the-art property has undergone $85 million of upgrades to its windows, elevators, air-conditioned public corridors and restrooms, and building-wide systems, including electrical, plumbing, HVAC and security.
Part of the W&H Properties Pre-War Trophy office portfolio, One Grand Central Place is owned by Lincoln Building Associates LLC, a partnership led by Peter L. Malkin and Anthony E. Malkin, one of New York City's most financially stable ownerships.
Available space ranges from W&H portfolio standard high-end pre-built suites from 2,500 to 5,000 square feet, build-to-suits from 5,000 square feet and white-boxed full floors from 12,000 to 48,000 square feet. There is also 16,000 square feet of prominent 42nd Street retail space available, consisting of 8,000 square feet on the ground floor and an 8,000-square-foot selling lower level.
Broker commissions are paid in full at lease signing.
|
