Rose Associates Leases 8,100 S.F. to Ace Hardware at Peter Cooper Village/Stuyvesant Town
Posted On October 25, 2011
Rose Associates announced today that Ace Hardware has leased 8,100 square feet at 312-316 First Avenue in Manhattan, a retail space at Peter Cooper Village/Stuyvesant Town. The store, slated to open in early 2012, will be the third Ace Hardware location of H.Brickman & Sons, a family-owned business that has been in operation for more than 90 years.
Bruce Spiegel and Bill Bergman of Rose Associates represented Peter Cooper Village/Stuyvesant Town in the transaction. Allen Gurevich, a director at Newmark Knight Frank, represented H.Brickman & Sons.
“Ace Hardware offers a diverse line of products that will serve this community well,” said Bruce Spiegel, senior managing director for commercial leasing at Rose Associates. “This lease falls right in line with our goal to secure a diverse mix of retailers that can satisfy the needs of neighborhood residents and the many business people that work in the area’s numerous hospitals and professional offices.”
The new Ace Hardware will occupy 4,000 square feet at street level with an additional 4,100 square feet of retail space in the basement. The space was formerly leased to Blockbuster. The lease term is 15 years.
Added Spiegel: “Area residents and businesses have long patronized the H.Brickman & Sons Ace Hardware located further down First Avenue at Third Street. In fact, they were recently voted Best Hardware Store of 2011 by The Village Voice. The demand is clearly here so it’s nice to add the convenience of a new location.”
As part of its marketing effort, Rose is currently overseeing a comprehensive façade renovation program that addresses the retail frontage running along the east side of First Avenue from 14th to 23rd streets. Rose is also marketing additional retail space at Peter Cooper Village/Stuyvesant Town, which counts Starbucks, Walgreens, GameStop and LensCrafters among its tenants.
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.