Ten-Year Lease Arranged by Sierra Realty Corp.
NEW YORK CITY, NY – November 2, 2011 – (RealEstateRama) — Popular women’s fashion brand Pookie & Sebastian will open its fifth Manhattan location (and third on the Upper East Side) according to Peter Braus, executive vice president at Sierra Realty Corp, the managing agents for the building, 794 Lexington Avenue.
Known for its stylish jeans and tops, Pookie & Sebastian will take immediate possession of 1,170 square feet of ground-level space and an additional 1,250-square-foot basement at 794 Lexington, between East 61st and 62nd Streets. The aggregate rental for the space is $17,000 per month for a lease term of ten years. The store will open in early 2012.
“As has been the case for quite some time, the Upper East Side continues to be a prime destination for retailers attracted by the area’s huge residential and tourist sectors,” says Mr. Braus, who brokered the deal along with Sierra’s Kenneth Hargrove on behalf of landlord Arthur Weyhe. “The proximity of high-end and flagship-level retail offerings in the neighborhood both substantiates and encourages this trend.”
Founded in 1953, Sierra Realty Corp. provides commercial and multi-family property management services, office and store leasing, real estate consulting, advisory services to building owners and tenants, comprehensive construction services and acquisitions and investment advice. The firm currently manages 45 buildings, comprising 1,000 residential units and approximately 600,000 square feet of office and retail space in New York City.
About Sierra Realty Corp.
Provides commercial and multi-family property management services, office and store leasing, real estate consulting, advisory services to building owners and tenants, comprehensive construction services and acquisitions and investment advice.
Client: Sierra Realty Corp.
12 East 46th Street
New York, NY 10017
From: Mike Odenthal or Jeannette Boccini, LVM Group Inc.
mike (at) lvmgroup (dot) com; 212-499-6571
jeannette (at) lvmgroup (dot) com; 212-499-6566
