NEW YORK CITY, NY – April 12, 2012 – (RealEstateRama) — A prime Third Avenue corner retail space is coming to market in one of Manhattan’s hottest retail and residential districts – the East 86th Street corridor.
Malkin Properties says the 4,700-square-foot corner space with more than 53 feet of frontage on Third Avenue will soon be available on the southwest corner of East 87th Street. The high-visibility site, which is part of The Gotham – a Malkin Properties retail condominium – is adjacent to a popular multiplex movie theater, and benefits from heavy pedestrian and vehicular traffic in the 24/7 destination community.
“Two major high-end multifamily developments opened recently within a two-block radius of this location, helping to make this stretch of the 86th Street corridor one of Manhattan’s best neighborhoods for quality retail, virtually on a par with Union Square,” says Fred C. Posniak, senior vice president of Malkin Holdings.
“It’s the heart of an affluent Upper East Side community, and very densely populated. What’s more, the IRT subway station at Lexington Avenue and 86th, which offers both express and local service, is one of Manhattan’s busiest.”
Mr. Posniak adds that the retail condominium itself occupies the base of a 25-story luxury residence.
There are a host of brand name retailers in the immediate vicinity of the available space, including Aldo, AMC Theatres, Athleta, Aveda, Banana Republic, Bank of America, Barnes & Noble, Best Buy, Chase Bank, Children’s Place, Chipotle, Foot Locker, The Gap, H&M, HSBC, L’ Occitane, Modell’s, PC Richard & Sons, Petco, Sephora, Shake Shack, Sovereign Bank, Sprint, Staples, Steve Madden, T-Mobile, Urban Outfitters, UPS, Victoria’s Secret and Vitamin Shoppe.
Mr. Posniak says “reasonable division” of the space would be considered.
Malkin Properties is the real estate acquisition, management and marketing arm of the Malkin family, which owns some 10 million square feet of office and retail space in the Greater New York area. For more information about The Gotham retail availability, contact Mr. Posniak at 212-850-2618, or fposniak (at) malkinproperties (dot) com; or visit www.malkinproperties.com.
