Rose Associates Leases 26,000 S.F. at Chelsea Landmark to Fairway Market
Rose Associates announced today that it has leased 26,000 square feet of retail space at Chelsea Landmark to Fairway Market. The lease is for all of Chelsea Landmark’s commercial space, which is comprised of 17,000 square feet of street-level retail and roughly 9,300 square feet of lower-level retail and sub-cellar. Chelsea Landmark is a 33-story luxury rental property located on Sixth Avenue between 25th and 26th Streets in Manhattan.
Bruce Spiegel, senior managing director for Rose, and William Bergman, commercial leasing manager for Rose, represented the property owner in the transaction. Gary Alterman of Robert K. Futterman & Associates and Allen S. Cooperman of Welco Realty, Inc. represented Fairway Market. The lease term is 20 years and it commenced today.
“Fairway’s move is proof that the retail corridor on Sixth Avenue north of 23rd Street has matured into a true link between Herald Square and the Flatiron and Ladies Mile areas,” said Spiegel.
The initial lessee for Chelsea Landmark’s retail space was Gracious Home. When that company vacated the space in 2010, Rose arranged for a series of highly successful, short-term tenancies at the property. Chelsea Landmark’s pop-up tenants included Knoll, Spirit Halloween and American Apparel.
“This is a highly visible and expansive space in a neighborhood that is home to a large residential and office population,” said Bergman. “We are pleased to have kept the space occupied as we searched for a long-term tenant and we could not be happier with the placement of Fairway Market, which will be a terrific amenity for all those who live and work in the area.”