Fairway Market Opens at Chelsea Landmark
Posted On July 24, 2013
Rose Associates, the exclusive retail and residential leasing agent for Chelsea Landmark, is pleased to welcome Fairway Market as the sole retail tenant of the luxury rental property located on Sixth Avenue between 25th and 26th Streets in Manhattan.
Earlier this year, Rose Associates leased 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 sub-cellar storage and food prep areas to Fairway Market. The Chelsea location will be the celebrated food purveyor’s fifth Manhattan store and 13th overall.
“Our goal with this Fairway, as it is with all the new stores we open, was to build the best Fairway and to ensure that we live up to our founding principle of being like no other market,” said Charles Santoro, executive chairman of Fairway Market.
“We are pleased to have worked with Rose Associates on our new location in Chelsea,” said Bill Sanford, president of Fairway Market. “The professionalism and expertise of the people at Rose Associates made this a very smooth development process.”
Bruce Spiegel, senior managing director for Rose, and William Bergman, commercial leasing manager for Rose, represented the property owner in the lease transaction. Gary Alterman of Robert K. Futterman & Associates and Allen S. Cooperman of Welco Realty, Inc. represented Fairway Market. The lease term was 20 years.
“We’re thrilled to welcome Fairway Market to Chelsea Landmark, a property Rose developed and where we also act as exclusive leasing and managing agent,” said J. Brian Peters, chief operating officer of Rose. “Rose was able to provide the lessee and building owner oversight of this unique build-out, allowing the project to move forward swiftly and without complication.”
Rose’s Technical Services division also oversaw Fairway’s build-out at Chelsea Landmark. The extensive process included architectural revisions as well as sweeping changes to the building’s mechanical and structural infrastructure. The magnitude and swift pace of the project necessitated the presence of daily onsite supervision to ensure the building’s integrity was preserved and the quality of life for residents maintained.
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.
About Rose Associates, Inc.
Based in New York, Rose Associates is a developer, owner and operator of premium residential properties. From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. The firm oversees more than 26,000 units across New York, with approximately $2 billion in projects under development. Rose recently opened the historic skyscraper 70 Pine Street, which the firm is transforming into a luxury rental property with 644 residential units, 132 extend-stay apartments and a destination restaurant/lounge occupying the top four floors.