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New York, NY - CityVest Realty leases 6,800 s/f to Oakley at 560 Fifth Avenue 2013-06-12 New York, NY According to CityVest Realty Corp. president Mark Stempel, a lease transaction with Oakley a premier sports and lifestyle shop, at 560 Fifth Ave. at the corner of 46th Street was completed. Serving as the flagship location, the space is 6,800 s/f.
The space will occupy the ground, second & lower levels, with an exciting design, both inside the space and on the exterior. To read more stories like this, visit our New York City section.



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Nymex Bldg. On The Block
By: Lois Weiss

The future’s so bright that Oakley sunglasses is opening a new flagship store at 560 Fifth Ave. The 6,800 square-foot space on the ground, second and lower levels at the southwest corner of 46th Street has 105 feet of wraparound frontage and is expected to get a cutting-edge design both inside and out. David Rosenberg and Beth Rosen of RKF and Ellen Lee of Natick, Mass.-based Milestone Associates represented the tenant. Mark Stempel of CityVest Realty represented the property owner, the Riese Organization, which had an asking rent of $1,150 per square foot for the ground floor space.


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Oakley to Open Fifth Avenue Flagship

By Gus Delaporte

Oakley
has signed a 10-year lease for 6,800 square feet across the ground, second and lower levels at 560 Fifth Avenue, it was announced today. Asking rent for the ground floor was $1,150 per square foot.
“A few steps away from Rockefeller Center and other international retailers, this is a perfect fit for a brand like Oakley,” said Mark Stempel, president of CityVest Realty Corp., who represented the landlord, in a prepared statement.


Currently, Cute Souvenirs occupies the property’s ground floor and a jewelry and gift store occupies the second floor. The current tenants will vacate within the next 90 days, by which point Oakley will move in.
The sportswear company, which signed its new lease on May 13, operates “O Stores” at 113 Prince Street in Soho and 1515 Broadway in Times Square. The company’s products are also available from other retailers throughout the city.

As reported, Oakley took 1,815 square feet at 1515 Broadway, where asking rents were $1,400 per square foot, in 2010.

“[Times Square is] catching up to Fifth Avenue, which gets $2,000 a foot for the best spaces,” said Jeffrey Roseman of Newmark Knight Frank, who represented landlord SL Green, at the time.


Dan Rosenberg
, executive vice president, and Beth Rosen, managing director, of Robert K. Futterman & Associates and Ellen Lee Kiely of Milestone Advisors, represented the tenant in the Fifth Avenue lease.

 

 

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560 5TH Real Estate Weekly

560 5TH Real Estate Weekly


Crocs take a bite out of 34th Street


Dennis Riese, President of the Riese Organization, announces the recent lease transaction with Crocs, world leader in innovative casual footwear for men, women and children, at 152 West 34th Street. Serving as Crocs fourth location in New York City, the 13,600 s/f space includes 40 feet
of frontage.

 

Celebrating its 10th anniversary in 2012, Crocs offers several distinct shoe collections with more than 300 four-season footwear styles. Since its inception in 2002, Crocs has sold more than 200 million pairs of shoes in more than 90 countries around the world. The brand celebrated
reaching $1 billion in annual sales in 2011.

 

“The space currently home to a Tad’s Steaks, Tim Hortons Café & Bake Shop and a Pizza Hut is a three-story building in a hi-trafficked shopping district, directly across the street from Macy’s Department Store and Penn Station. This location has terrific visibility, a perfect formula for retail success,” says Riese.

 

Crocs is taking possession of the space in spring 2013 with an expected opening in summer 2013. Crocs currently have stores in three other locations in Manhattan at 270 Columbus Avenue, 143 Spring Street and 89 South Street.

 

Mark Stempel, President of CityVest Realty Corp. represented the landlord and Steven Greenberg, of The Greenberg Group, Inc. represented the tenant in the transaction.

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560 5TH Real Estate Weekly

For more information on the properties and other availabilities, contact Mark Stempel, President, CityVest Realty Corp at (212) 560-1633 or Mstempel@Cityvestrealty.com.

About CityVest Realty Corporation

CityVest is a real-estate brokerage, which brings to the table decades of experience in the retail and mixed use market in Manhattan and the Boroughs of New York. CityVest handles some of the most important and high-traffic retail in Manhattan with exclusives in the busiest pedestrian areas of the city. CityVest is a member of the Real Estate Board of New York.

CITY DEALS
Lois Weiss
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CityVest Contact

cityVest contact

mstempel@cityvestrealty.com

All informatoin furnished is from sources deemed reliable and submitted subject to errors, omissions, changes, prior sale, lease or withdrawal without notice. Areas and dimensions shown are approximate.