News
Upper East Swing
December 1, 2010
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| After taking a hit from the credit crisis, the Upper East Side’s retail market around 86th Street is on the upswing again, according to Winick Realty Group’s Annie Shinn and Darrell Rubens. We met with the duo at 1491 Third Ave, which had been a Lenscrafters and a 20-year-old Indian restaurant. The 4,400 SF space, which they're marketing with Lori Shabtai, has been combined and vacant for a year, but they note there’s been an uptick of tenants attracted to the neighborhood and looking at the space. Ideally, they’d like to see a children’s clothing store there—strollers are a common sight in the neighborhood. The rest of the FSM Holdings-owned building was reworked with Corcoran Wexler Healthcare Properties and recently leased to NYU. |
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| The bustling corner of 86th and Lex. Among the neighborhood’s newest tenants are “tons of restaurants” and businesses that have been displaced by the nearby Second Avenue Subway construction, Darrell and Annie tell us. Others include: Urban Outfitters, which recently opened a 12k SF lease at the base of The Brompton at 200 E. 86th St; Shake Shack, which opened at 154 E. 86th St over the summer; Chipotle, opening around Christmas at 1497 Third Ave;Fairway, opening a new 50k SF store at 40 E. 86th St; and Chocolate By The Bald Man, which is opening on the northeast corner of 85th and Lex. They’re also marketing 1501 Third Ave, a 2,200 SF, four-story space they’d like to triple-net lease to a restaurant. |
