Rose Sales & Rentals

Client Case Study

The Capitol at Chelsea

Rose Associates Property Development

Rose Associates was appointed by JP Morgan Fleming as Asset Manager for the commercial, retail and residential elements of The Capitol at Chelsea.

Residential Marketing

The marketing professionals at Rose embarked on an aggressive branding campaign that stressed how the building's location in Chelsea provided many lifestyle advantages, not the least of which was a desirable proximity to the financial institutions of Lower Manhattan. Within a year, Rose's marketing team was able to significantly increase The Capitol's rent roll. Rose continues to market the building today, reinforcing the brand to maintain occupancy and high rents.

Retail and Commercial Leasing
  • Rose was selected to market the retail and commercial space of this residential building in 2002.
  • At the time, the building had three floors of never-before-occupied office space.
  • There was also 3500 square feet of raw street-level retail space. Rose marketed this space to retailers who could benefit from the customer base within the building as well as the neighborhood, which was becoming increasingly residential. Rose leased the street level spaces to national tenants (Lenscrafters) and local service providers (Pet Central.)
  • Due to the residential building's concrete construction, the commercial floors were less than ideal for traditional office tenants. Also, this area of Manhattan is not part of the central business district.
  • Rose's commercial leasing team looked beyond these challenges to identify target tenants that might be a fit for the building's commercial space. Educational institutions were high on the list.
  • Rose leased the entire third floor and part of the fourth to the Beth Israel School of Nursing, which was in need of classroom space.
  • Rose then leased the second floor to Tutor Time, a childcare and learning center.
  • Rose realized Tutor Time's client flow might impact the other commercial tenant traffic in the building. By relocating an existing retail tenant, Rose vacated 1,000 square feet of street-level space that was customized to provide Tutor Time with a dedicated elevator to their second floor premises while also providing them with a sales and information center with avenue frontage.
Property Management

Rose Associates manages the extensive residential, retail and commercial space of The Capitol, a 37-story building on Sixth Avenue between 26th and 27th streets in Manhattan. The Phillips Beth Israel School of Nursing and Tutor Time, a childcare and learning center, occupy full commercial floors at The Capitol. Since the nursing school's students and staff require extended hours of access, Rose designed custom cooling and heating systems and installed state-of-the-art electronic security to provide comfort and safety. Rose also worked with the building's educational tenants to establish evacuation plans that meet New York City's stringent code requirements.